Tuesday, May 23, 2006


Here is an hourly chart showing pit and electronic trading in June gold futures. I last commented on gold here.

In this morning's guesstimate I said that gold would rally to 673. That level has been reached but I do not see any sign of a turnaround yet. So I think the market will move a bit higher into the 682-85 range and then resume its drop to 535.

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