its just a flesh wound!, page-8

Hi Zia,
Gold is certainly oversold right now but has broken through support of $1340 and hit its 100dma. The USD is dropping and this should provide support to give gold its next leg up.
Obama is going to try to tell America that everything is fine and the recovery is on track. I guess high unemployment is new for on track.? I'm sure he'll talk about jobs and how to 'stimulate' the economy more. Stimulate's new meaning is to print more and more money and monetize your debt to create jobs. All of this will add strength to the price of gold.
Cheers,
Al.