Hopefully the next round of Dollar weakness gives us a repeat of this action
Given gold's decoupling of late wanted to make sure the recent Euro rally didn't have a negative impact on gold. Biggest worries are:
1) Gold overbought ST 2) Getting to be too many bulls ST sentiment wise 3) Fed interested in keeping gold capped? Last time in the fall 920/930 was an area that seemed artifically capped. 4) Big caps no longer cheap (at least based on present gold prices)
Biggest argument on the plus side imho is that gold has broken out in every major currency except US Dollars. Given out bailout funding needs seems like only a matter of time as US Dollar is not FA supported. I continue to favor mid cap gold producers.
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