Gold gets a wedgie.
New York spot gold, Nov 30, 11:51am EST
So, what do you think about gold? Is it will rise as before? or we will see rollback???
FYI it just tanked, since ytd.
The way I see things is that the stock markets are pulling the silver and the gold down. Not so long ago the metals were considered the safe corner in times of uncertainty but things are changing now. There is a bearish “head & shoulders” pattern in the gold’s daily chart and a strong break-down could take the gold down to $27.
[B]Jack Crooks[/B] on China and gold —
Gold and its connection to China’s social unrest | Forex Blog: Currency Currents
[B][I]Forbes[/I] magazine[/B] on China and gold —
China goes on gold binge; world wonders why - Business - World business - msnbc.com
Hey Clint
Don’t rely on those opinions too much.
It is behavioural economics. Bias!
I think that the gold has finished the correction of the recent rally, and it is about to start a new bullish session. There is a double-bottom pattern at $1700, which is a strong signal for the precious metal. A break-up of the current resistance at $1740 will be the beginning of the bullish reversal and the gold will probably try to take over $1800 again.