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Gold/Mining/Energy : Juniors News!

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From: canucklehead80	12/27/2011 4:14:55 PM
	of 62

Grandich on 2011 A December 16 interview By Kevin Michael Grace Q: So tell me, to what do you attribute the hammering gold took the last week? A: I think we saw technical selling which was exaggerated by year-end trading, where when people looked around there weren’t a lot of things they could sell that had profits, and gold was one of them. The physical market remained very strong. In fact, a lot of people spoke about premiums expanding on purchase. There’s people talking about central banking intervention and all that; that’s just more sour grapes than anything else. Q: Everyone is talking about the 200-day moving average being breached. A: The thing about that, Kevin, is that that it is an important issue for a pure technician. The problem is that it’s been broken at least a half a dozen times in this bull run starting at $400, and that didn’t end up stopping the market from driving much higher later on. I think it’s an important thing to look at for the short term and even intermediate, but I don’t think it’s something that overrides the bullish fundamentals in that market. I won’t lose sleep over it Read the rest of this interview.

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