Gold Down 2.4 Percent
Gold reached a new record peak just yesterday at $916.10 on the New York Mercantile Exchange (NYMEX). Today, corrections appear to be in order. Profit taking came into the mix after the dollar gained strength against the euro and oil prices declined.
Many analyst had indeed forecasted corrections occurring shortly after gold went above $900 an ounce.
Not to be cynical, but given there are market analysts on both sides of the fence and standing on top of it, a percentage of predictions are bound to be right some of the time.
