At a bottom now for gold? Message Board

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Gold/Mining/Energy : At a bottom now for gold?

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To: Bo Bob Brain who wrote (420)	5/13/1997 4:57:00 PM
From: Bo Bob Brain	of 1911

The downturn in the dollar is one of the primary reasons for the recent resurgence in the precious metals. Todays activity was positive for the metals, silver prices reversed up, which negates most of the negative momentum from yesterday's reversal down. Gold closed above $350, which is the first level of critical resistance. We'll have to see if follow through buying occurs over night. If not, these markets are likely to stay range bound $4.80 - $5.00 silver. Gold will have to rally to about $360 before it can be determined if this is just a corrective rally, or the start of something big.

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