Wednesday, September 29, 2010

The Rallying cry in gold continues

Dec contract up another $4+
My only concern is short term correction potential, though with the strong momentum the expected correction will likely be brief. The race for currency devaluation is on, on both sides of the Atlantic and will benefit gold and silver. Jim Sinclair's near term target of $1600 seems quite achievable. Pay no attention to those warning that gold is in a bubble that will soon pop. Gold still needs to exceed $2000 to match inflation adjusted all time highs of 30 years ago.

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