Gold Price Movement

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silvernut

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Gold Price Movement

posted on Oct 15, 2008 08:14AM

Not to play a broken record, but it appears as if the recovery price action after the "Nymex carpet bombing" at 0800-0900 was stronger than the last several days and the bounce off of 830 support was impressive. We will see if at 1530 today the "afternoon carpet bomb" continues or a new trend is established.

I know this is a short term view, but at some point we will see these trends reverse and the relfation concerns FB discussed hit our market in a positive way. The good news here is the more the market bases here, the better is the possiblity for a good support level and strong advance.