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CaptWhizbang

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CaptWhizbang

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Monday, 06/04/2012 1:36:50 PM

Monday, June 04, 2012 1:36:50 PM

Post# of 346
Gold Trades Moderately Lower on Corrective Pullback from Friday's Big Gains

Monday June 04, 2012 10:54 AM


Comex gold futures prices are experiencing a moderate downside technical correction from the large gains scored on Friday. Such is not surprising given the magnitude of Friday's price gain in gold--in excess of $60.00 an ounce. The gold bulls still have some upside near-term technical momentum on their side after Friday's advance, but do need to show some follow-through price strength soon to keep it. August gold last traded down $10.00 an ounce at $1,612.00.
http://www.kitco.com/reports/KitcoNews20120604JW_update.html


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