Thursday, 3 May 2007

2 interesting charts for Gold investors

For anyone interested in Gold investments, I find this blog interesting:

where Gary has summed up the market in a couple of charts.

My own personal take is that we are approaching an interim top in the gold price. The market looks overbought at the moment, though you wouldn't believe it from today's bullish action in gold stocks. The COTs (Commitment of Traders), a weekly report of longs v shorts in the market, have been showing for some weeks that we have entered the lower end of the range where the market historically turns down. But it's always a tough call when to get out as the most explosive gains often seem to come in the last gasp of the market.

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