- Stocks May Rise Further after Fed Waves on 'Risk Trade'
- Obama in China Grapples with Economic Strains
- Buffett's Berkshire Hathaway Boosts Stake in Wal-Mart
- Microsoft Co-founder Allen Diagnosed with Cancer
- Time Warner to Spin Off AOL on December 9
- Gates Boosts Waste Management, Coca Cola Stakes
- What's Kept Stock Rally Going? Fear, Not Confidence
- US Cities With Most Underwater Mortgages
- Citi Shares, A Strange Indicator Of Unemployment?
- Answers to Your Questions: A Path to Economic Disaster?
- 5 Ways to Play the Chinese Markets: Analyst
- Meredith Whitney: Turns Bearish
- 3 Stock Plays on Rising College Costs
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- Nov. 16: Unusual Volume Leaders
- Getting to the Heart of the Merck-Abbott Embargo Break
- What MGM's Sale Could Say About Value of Content
- My Ratings on Lowe's & Home Depot: Analyst
MOST SHARED
- Stocks Overvalued, Recession Will Return: Meredith Whitney
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- U.S. May Wind Up Green With Envy
- Warren Buffett's Berkshire Hathaway Almost Doubles Wal-Mart Holdings During Summer
- BofA Ex-Counsel: I Was 'Stunned' When I Got Fired
- Solar Emerges From A Dark Period
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- Stanford Receiver to Release Funds Of Frozen Acounts
- Millions May Have to Repay Part of Obama Tax Credit
- Gold Is in a 'Bubble' And Will Keep Going Higher: Gartman
Gold has reached a good base of $730 and it looks likely to break out of that negative trend, Robin Griffiths, technical analyst at Cazenove Capital, told CNBC.
Griffiths sees the precious metal heading toward $1,500 in the next 12 months.
Gold has been in a prime uptrend for a couple of years, but for the last six months it has been falling back from $1,000 to $730.
Griffiths also noted that the Nikkei 225 Average found a base recently, and said the index is due to rally to 10,500 before the end of 2008.
The British pound is likely to reach parity with the euro by the end of the year, while the pound likely to go down to $1.40 against the dollar, Griffiths predicted.
"The currencies that look very strong are partly the euro, but also the yen," Griffiths said.
"Cash doesn't give you a return, at the moment not one worth having, so the negative about gold has gone away," he said. "It does traditionally preserve value both in panicky inflationary times and deflationary times."
For the Investors:
- Pros Say: China Won't Save World from Recession
- Market Tips: Dollar Rally Largely Over
- Charts Predict: Gold at $1,500; Nikkei to 10,500
- Where, what, how.
- CNBC's Jim Goldman asks: Has the sun begun to set on Twitter? Data suggests its best days are over.
- Everyone wanted a piece of Madoff's "Bullship"--the famous buoy sold for $7,500 at auction. You won't believe these prices.
- De Loach Vineyards is selling its pinot noir the old fashioned way, helping to cut energy and transportation costs.
- Why are the Chinese concerned about the progress of U.S. health care legislation?
- CNBC's Maria Bartiromo talks to rapper Snoop Dogg about brand identity in both business and music.











