Gold Price Bottom on 24th of May
The GOLDPRICE.ORG Gold Price Sentiment Indicator is based on a number of variables related to website traffic on goldprice.org and other popular gold and silver websites around the world.
The Sentiment Indicator has spiked at almost every major top and bottom in the gold price during the past year. Our last update on the 6th of March suggested a bottom in gold had occurred on the 5th of March, this has since turned out to be spot on.
GOLDPRICE.ORG Sentiment Indicator Suggests the bottom may be in for the gold price and that now is a good time to buy gold.
On Thursday the 24th of May 2007 the GOLDPRICE.ORG Gold Price Sentiment Indicator had the largest spike since the previous bottom in the gold price on the 5th of March. This spike suggests a bottom occurred when the gold price bottomed on Thursday the 24th of May at $651.50 per ounce.
Even with reliable indicators like this one there are never any guarantees. There is always the possibility of a lower low. That is why it is prudent to buy physical gold that you own 100% and why you shouldn't buy gold on margin.