Is the worst over for gold?
I include below a daily chart
of gold going back three years. What I want to show here is that
over and over again gold has declined to test its 200-day moving
average. In April 2003 gold actually broke temporarily below
its 200-day moving average -- and then recovered.
Gold is bouncing around its
200-day moving average and up .60 in the aftermarket. Silver
up .10 in the aftermarket. Is the worst over for gold -- too
early to tell, but the 200-day MA has halted gold declines many
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