Jeff and intellimoneyThanks for your thoughts - I should state...

Jeff and intellimoney

Thanks for your thoughts - I should state clearly that I do not think that gold is due for a large correction. I think if gold is to repeat the dominant pattern of the bull market then it may ease back from here very soon to:

a) allow the completion of the July 2005 pattern; and

b) allow a new and distinct high to be formed above the $922 mark so that the first leg of the new pattern which commenced in August 2007 can be completed.

I am only a very short-term gold bear and in the medium-term think that the $922 level will be exceeded.

Regards

- HBG

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Trade the market you see - not the market you hope for!