My last call saying gold will fall to the 1325-1300 level turned out to be correct, but now that that has happened and we went back up to 1355 and down to 1328 again, my belief is we are in a trading range. I don't know how long we will last in this range, due to not knowing if the stock markets future. We need more information on what the general market will do, and as well as the bond market. Breaking above 1365 is going to be difficult and It will take time to get above that or perhaps higher inflation. The stock market crashing has the potential to bring down gold, so we must watch for that. I believe the 1310-1365 range we will be in for atleast a couple of weeks unless something puts enough pressure to bring gold down below that level or something that will help it break out. I will update you as I come to a better conclusion. My prediction is we break out over the next couple of months, but is we break below 1310, I wouldn't be surprised.
you heard it hear first, we have been stuck in a trading range since.