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Gold/Mining/Energy : Precious and Base Metal Investing -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (21711)	10/4/2003 9:19:13 PM
From: winzer5	Respond to of 39344

Globe says Barrick, others hear bullish gold outlook 2003-10-01 09:19 ET - In the News The Globe and Mail reports in its Wednesday edition that Don Vialoux, an independent technical analyst, said in a report that gold decisively broke key resistance at $382.10 an ounce and could be on its way to $456 an ounce over the intermediate term. The Globe's Angela Barnes writes that the intermediate term is the next three to nine months. "Gold has an attractive technical profile," Mr. Vialoux wrote. Bullion, which closed at $385.40, has support at its April, 2003, low of $319.90, its July, 2003, low of $343.40 and its 40-week moving average at $353.60. Gold's next resistance levels are $416.25 set in February, 1996, $423.75 set in March, 1990, and $499.75 established in December, 1987. He said, however, these resistance levels are stale and may not be relevant. Fundamental prospects for gold are positive. After having temporarily strengthened during the summer, the U.S. dollar has turned south again. Should the dollar on a trade-weighted basis drop below support set in June, that would likely "trigger significant technical buying of gold and gold stocks," he said. Since gold is priced in U.S. dollars, it tends to become more attractive to foreign investors as the dollar falls. (from Stockwatch) Cheers Winzer