Tuesday, October 31, 2006

Gold


Here is an hourly chart showing pit trading in December gold futures. I last commented on this market here.

Gold has held support at 600 and I think it will rally at least to 618 and possibly all the way to 625. In either case I also think this is the last gasp of the rally from 563 and that the next big move in gold will carry it down below 500.

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