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August 25, 2014

A Conjecture on Gold

One thing that bugs me about my bearish view on gold's intermediate cycle is the fact that the dollar has recently gone vertical without knocking the legs out from under the yellow metal. Yes, gold's price has slumped about 40 bucks over the past week and a half, but we need to see a convincing, weekly drop of 3% or more. A possible setup on gold's weekly chart hints that such a drop may be arriving ...

 

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