Monday, June 16, 2014
The Gold price quickly rose as news of insurgents invading an important city in Iraq became apparent. The insurgents invaded the city of Mosul which is near one of Iraq’s main oilfields which in turn lifted gold prices.
Traders are now basing themselves on the news in Iraq and it is expected that the gold price will rise sharply in the coming weeks. The FOMC meeting this week will influence the future markets and it’s predicted to be another $10 billion cut which has been the situation at each of the previous meetings held in the past.
Is now the time to buy gold before the price rises further?