The dollar bids so gold is down. At some point, it will be imperitave you buy gold if we are headed for a period of stagflation. I am waiting to see if 616 holds. If not, then the next buy is 605. The chart is ambivalent, we are sitting in a triangle formation that could be bullish. On the other hand, we have repeated throwbacks at 50 dma. September is usually a very bullish month for gold. In any case, watch 616 today, it is a key number. I doubt we will hold it short term, but you never know.
This entry was posted
on Friday, September 08, 2006 at 7:13 AM.
