The Hunt for the Next 10 Bagger

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Gold rebounds after two days of dings
LOS ANGELES (MarketWatch) — Gold prices got back on track Tuesday, pushing higher after a couple of down days as investors seem to have gotten their short-term fill on equities.

Gold for August delivery (CNS:GCQ4) was up $2.50 an ounce to $1,319.50 an ounce. September silver (CNS:SIU4) added 6 cents, or 0.3%, to $21.08 an ounce.

On Monday, gold closed at its lowest level in more than a week, extending recent declines even as the shine, at least temporarily, dimmed on equities.

If you think trading has been slow in the past few weeks, just wait, says Marex Spectron’s manager of precious metals David Govett.

“I still feel that the market has done enough on the upside for the time being, although having said that, the downside is fairly limited,” he said. “I think we have now well and truly entered the summer doldrums and wouldn’t hold out a lot of hope for fireworks in the near future.” http://www.marketwatch.com/story/gold-rebounds-after-two-days-of-dings-2014-07-08