Wednesday, October 28, 2009
GOLD PUSHED BELOW THE 50% RETRACE POINT OF THE MAJOR UP MOVE FROM 987
BONDS MOVING UP, STOCKS, OIL, EURO ALL STALLING, BUT GOLD IS RISING A BIT HIGHER ABOVE THE RECENT HIGH
FOUR TESTS OF THE LOW AT 1030.80 AND IT HOLDS, A GOOD SIGN THAT IT COULD BE A BOTTOM FOR NOW
GOLD RISING EVEN MORE THAN SHOWN HERE
AHEAD OF THE CRIMEX OPEN
STOCKS, OIL, EURO ALL TRYING TO RISE
WITH BONDS AND YEN TURNING DOWN.
GOOD FOR HIGHER GOLD
DOLLAR STILL UP TOO HIGH ON PPT INTERVENTION
AND OTHER CENTRAL BANK BUYING IN COOPERATION
WITH OUR FED RESERVE. A STANDARD TACTIC TO SAVE
A CURRENCY IN TROUBLE.
BONDS, YEN TURNING DOWN, STOCKS, EURO, OIL TURNING UP...GOOD FOR HIGHER GOLD
THE PRESSURE IS ON GOLD BY THE BULLION BANKS
IT MAY HAVE BOTTOMED HERE, BUT THIS RALLY IS
WEAK ON VOLUME. WHAT HAPPENS BEFORE, AND ON,
THE CRIMEX OPEN WILL BE SIGNIFICANT. IF GOLD IS
BASHED DOWN FURTHER, IT WILL BE A SIGN OF TREMENDOUS
WEAKNESS IN BUYERS WHICH WILL TAKE SOME TIME
TO HEAL. ALTHOUGH KNOWLEDGEABLE BUYERS KNOW
WHEN GOLD IS A BARGAIN AND SOME FUNDS SHOULD
BE MOVING INTO GOLD AT THIS LEVEL WHICH COULD
RAISE THE PRICE SUBSTANTIALLY. THE PRICE WILL BE
FOUGHT ALL THE WAY UP BY THE BULLION BANKS FOR
THE GUV'MINT
GOLD HAS BEEN BASHED DOWN BEFORE THE CRIMEX OPEN TO SHAKE THE WEAK LONGS OUT, A PRE-OPEN RALLY COULD BE ATTACKED
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