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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 414.48+0.7%Jan 9 4:00 PM EST
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To: Crimson Ghost who wrote (24999)11/9/2007 12:18:57 PM
From: Riskmgmt  Read Replies (2) of 219182
 

What is really surprising is that gold is holding up despite the surging yen.

Gold certainly appears overbought, I sold some earlier expecting a retracement, which hasn't happened, not yet.

Some of the reasons may be: the dollar weak and all the media talking of the dollar going lower, gold is the hedge for many people. Also the financial/sub-prime etc., scares are helping propel it higher too, no doubt.

I'd take some profits on both Yen and Gold if I could see an asset I'd rather own.

regards

Ray
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