Tuesday, November 30, 2010

Gold breaks out to the upside!

The Gold Bulls get their way today with a move up $16.50 to close at $1385. This takes out the previous high of $1382 so this may start an upwards trend of higher highs and higher lows for December. 

If hedge funds and institutions have sold this year to lock in profits, most of the major selling may be over...?  If so, we may head up to the $1400 area and beyond for the month of December...  The seasonal trend for Gold in December is generally positive.

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