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Will Gold Stay Above $321 in NY?

  1. xerxes_ph

    9,081 Posts.

    At the moment it is looking quite strong in London ... was over $322 at one point ... but is still up strongly and holding at over $321.

    The big question is what will happen to the POG in New York tonight. The Dow is not looking too good ... tonight gold could hold onto its gains despite the all too familiar attempts to "knock it down" in NY that have characterised previous trading patterns.

    If it holds ...the "shorts" will run for cover and the next significant rally could be under way.

    It will happen ... sooner or later.

    Gold stocks are the one safe bet on the ASX ... and, in my opinion should be held. Panic sellers of gold stocks are just playing into the hands of the "smarts" who are gobbling them up at bargain prices.

    Interesting times indeed.

    Cheers, Xerxes.

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