Saturday, February 2, 2013

gold outlook - February 2013

When it comes to gold I have no special knowledge or insights, but I was asked for an opinion.  So I have attempted to take a look. The commodity gold may or may not track the PM miners.

Looking at the charts it appears a top (around 1700) should occur the second week of February (Feb 11?).  Then it should pull back 60-70 points (1630-1640) before the middle of March (Mar 11-13?).  So take profits in paper gold (ie ETN GLD).  I assume if you hold physical gold it is not for short term trading.

Here is a visual:

GL gold bugs - I like acres where I can grow food (you can't eat gold).

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