We've added to our gold futures position on this morning's consolidation weakness, and have also rolled out of the December contracts and into February in order to avoid taking delivery on 2,000 ounces worth of gold!
The People's Daily is always a fun read, and seriously, required reading if you're going to trade in markets with a worldview - afterall, we Americans owe our financial souls to the Chi-coms. Here's just another reason why I'm bullish on gold, even in a weaker U.S. economy scenario (click here).
Oh, a key driver of gold is the weakening dollar since it spurs a flight out of paper assets. Don't take my word that the dollar is going to fall, it's far better to listen to what the PIMCO folks have to say.