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Gold – Tenacious Correction Not Definitely Finished
From midastouch-consulting.com
In late April, we timely warned about a topping process in the gold market and expected prices to pull back towards USD 1,900 over the following weeks. On June 29th, with gold reaching an intraday low at USD 1,893 we turned bullish. After a nice bounce back towards USD 1,987, we urged some caution and expected another pullback. However, our assumption in early August that this pullback would remain rather shallow and above the June lows, did not play out. Instead, gold was grinding lower most of August, finally reaching a low at USD 1,885. Overall, and that is most important, bears have not been able to conquer the ... (full story)