The gold price is going from strength to strength. The price briefly breached $1200/oz, before closing at $1197/oz. Importantly the price closed only slightly off its high. The strong close is a good indication that the market is expecting further gains even though $1200/oz can be considered psychological resistance. It is also noteworthy that gold has already been sold off to $1150 last week, so we have yet to see the end of this rally.
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Andrew Sheldon www.sheldonthinks.com
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Andrew Sheldon www.sheldonthinks.com
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