Gold is down but IMHO it needed this pullback as it shot up a...

  1. 354 Posts.
    Gold is down but IMHO it needed this pullback as it shot up a little fast. It is still in an uptrend, don't forget 2 days ago it went up US$8 and a $5 pullback is not too worrisome. Gold is going to go up again on Friday in the US, the pattern has been 5 steps up, 2 steps back, the pullbacks are opportunities to get in not out! The US share market well I also think it's in for a big sell off Friday. Today was a bear market rally, which in the past have lasted for short periods. Monday is a holiday in the US and I think investors holding stocks will take profits Friday incase an 'event' takes place over the long weekend. We'll see I suppose.
 
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