Well, there were technicians who said only to buy gold if it could show some moxie clearing
resistance at $1620 oz., and they have been right so far. Bigger players such as Soros, Paulson
and Pimco Commodities are all reportedly thumbs up on the trade. It is all "on the come" ahead
of anticipated fresh QE by the Fed and perhaps a turn by the ECB as well. The recent sharp
run up is ahead of the Bernanke and Draghi speeches at the Jackson Hole, WY Fed confab
late next week. Gold Price Chart:
http://stockcharts.com/h-sc/ui?s=$GOLD&p=D&b=5&g=0&id=p07801840825
You are on your own on this one.
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