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Thursday, September 3, 2009
Gold and Gold Miners
Gold broke out of a trading range with conviction today. It is OK to buy gold miners PROVIDING quick to sell positions if/when gold retreats below the past trend line. I am still bearish on gold miners for next 6+ months, but we could see a significant rally starting in gold miners in the near term. As USD currency strengthens, gold could follow, atleast initially. Some bloggers think gold is headed towards 1300. For insightful gold analysis, see Gary of The Smart Money Tracker blog. (click)