Today on low volume both the Dow and gold consolidated. Gold rose yesterday for the seventh day in a row, so it was no surprise that gold closed lower today. All gold-related items declined today. The breakout level in gold I am watching for is 1350. It may require a few more days or even a week or two of base-building, but I think we will see gold at its significant price of 1350 between now and the end of August.
The Dow ended up a bit today. and happily, the Transports gained even more percentagewise/. I think it's a good sign that volume dried up on today's decline. The market has a lot on its mind, and I believe what's on its mind is the US economy during the second half of the year 2013, rather than what Ben Bernanke may or may not do. I don't believe the economy is ... Log in or subscribe to continue reading.
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