Gold Weakness Creates Buying Opportunity
Source: Seeking Alpha (7/9/07)
The current weakness in gold could be a prime buying opportunity for investors, according to Raymond James analyst Paul O'Brien. Gold prices hit a rut in the second quarter, posting a 2.2% downturn from the previous quarter, averaging US$668 an ounce
According to Raymond James analyst Paul O'Brien, gold prices should reverse the downward trend in the near term, rising to US$670 an ounce in the third quarter of 2007 and US$730 in the fourth quarter.
Year-to-date, gold prices gold is up 2.1% while gold equities measured by the S&P/TSX Global Gold Index are down 17% for the year.