The gold price is still in uptrend - long term, I believe LHG at these prices will reward handsomely.
To me it smells heavily of manipulation.
Who wants to beat down the gold price? This could be the last hurrah of the big bullion banks to try and smash down the gold price and extricate themselves from a potentially devastating fiscal nightmare.
All they will succeed in doing is delaying the inevitable.
As long as the uptrend is still in place - and it is, quite securely, the potential is there for explosive upside in the POG.
The longer the price of gold oscilates within its broad uptrend band, the greater the upside break will be when it comes.
This is an opportunity to top up or get set. And such oportunities will not occur too often.
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