Gold has been a real performer during the week

Gold has been a real performer during the week

Last week I said that the gold sector had bottomed and we should be ready for a much stronger market, concurring with the views of a number of devotees in the markets. Had I suggested that the gold price would jump from the low mid US$1120s to hit US$1173 by the end of the week I would have been called too bullish, yet that is what happened. A brief technical correction on Friday night was quickly reversed when traders took the
opportunity to cover their shorts, which they did aggressively.

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