"Re: GOLD update Don - Wednesday at 10:27 AM In response to: GOLD update
This market is stuck until some "inside" news is released. I believe that will occur early Friday morning (3am New York Time), this will be when the ECB Monthly bulletin is released on the web. I think the numbers I am looking for will either tell us that gold will make a sharp rally higher over 330, or in fact Europe has now resumed shorting gold over the past month (which I kind of doubt it). Last month gold made a sharp upside rally in the Access Market prior to the opening of the New York Outcry session, and the New York SHORTS had covered when it was apparent that Europe did not short gold by my calculation for five weeks, as New York Traders thought they would.
The key here is to watch the behaivor of the EURO to GOLD. I strongly believe there is a direct connection between the two markets.
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