Gold Tries Bottoming

Gold Tries Bottoming

Gold investors are carefully watching the market for signs that a bottom’s been established at the $1,360 level. Prices have churned in a $120 range for the past six weeks, leading some traders to think that a platform’s been built for an assault on the $1,600 level. That translates to a price of $154 for investors using the SPDR Gold Shares Trust (NYSE Arca: GLD). With COMEX spot at $1,387, GLD currently trades around $134.

There are plenty of bears

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