Friday, April 10, 2009

Gold Chart Update.

By Joshua E. Stone

The chart to the left shows gold heading to the key fib in the 851 area next. As mentioned in a prev post , my bias is for gold to fall over the coming weeks and maybe months. It will be a tug of war as the market decides how well the Fed deals with inflation issues. Most think they will be very carefull not to let it get out of control, so thus the price of gold will be a choppy grind to the upside over the next 3-4 yrs.

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