Monday, September 9, 2013

Gold to $1,200

At least the technical analyst thinks so. I would not doubt we have seen, continue to see a retracement of the recent gains. However, this pullback has occurred on declining volume levels, suggesting that the pullback is a countertrend move and that the uptrend that began in June will continue. Beside, the RBC technical analyst's thesis seems to rest solely on Syrian-related political risks. My memory may be slipping but I do not recall John Kerry calling for a Syrian war back in June.


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