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