Sunday, November 26, 2006
December CBOT Gold Update
We continue to hold a long position in the December CBOT 100 ounce gold futures contracts. Tonight the metal is trading above the $640 level as the dollar is falling again against the Yen and Euro. I like to take a very disciplined approach where profits are concerned. IF gold can move to resistance at $645, I will begin to cut my stake into that strength. I'll have further comment on the dollar and its impact on other markets before the open tomorrow.