Golden Cross For Gold
By GCRU Gold News on Saturday, February 27 2016, 03:02 - Permalink
Today, gold experienced a “golden cross,” a technical indicator that occurs when an asset’s 50-day moving average crosses above its 200-day moving average. It’s the first such movement in nearly two years and is a sign that gold might have further to climb.
But there’s more exciting news involving gold. On the same day that New Jersey Governor Chris Christie endorsed Donald Trump for president, which is sure to give him another boost in the polls, the precious metal received its own high-profile endorsement. In a note to investors today, Deutsche Bank said it’s time to buy gold, writing: “Buying some gold as ‘insurance’ is warranted.” The bank also stated its opinion that gold “deserves to be trading at elevated levels versus many other assets.”
