It is 9:30 in the morning where I am, and I have to sleep sometime.
That was a very nice relief rally last night and gold investors must feel a little more comfortable. The question I am asking (because am only just out of bed) is where the impetus came from.
If the buying was investor driven, it could be the beginning of the rally that you are looking for. However, if the buying came from traders exploiting an oversold market crowded with weak shorts, then I would expect the rally to peter out and the bear market to continue.
I don't have an opinion either way as yet, and that is always a good reason not the have a position.
