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GOLD $1,292.5

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  1. AnnaPhylaxis

    470 Posts.

    This is Cliff Droke's bullish analysis of the the current gold chart.


    http://www.goldseek.com/cgi-bin/market/news/BearMarketReport/1031280770.shtml

    Apart from those stocks closely leveraged to the gold price such as LHG you would not know that POG has moved up significantly overnight. Certainly the spec gold stocks on my watch list have not moved significantly. I suspect gold still has a lot to prove to the average investor who may have been burnt in the oscillations of price. Still, in my humble view, gold has done all it needed to do to maintain it's bullish chart picture. Speccies will have to hold out for sustained increases in POG. It's a ibt like the boiling frog as POG creeps up and up along its trend line until suddenly people notice it...
    AnnaP

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