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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (21269)	1/13/2005 2:24:44 PM
From: Crimson Ghost	Read Replies (1) \| Respond to of 116555

BCA turning bearish on gold Not So Golden? 10:32:00, January 12, 2005 The bull market in gold may be reversing, or at least may be headed for an extended hiatus. Rising real interest rates and prospects for a firmer dollar ahead point to trouble for gold prices. Technically, the market is looking shaky: cyclical momentum (the 52-week rate of change) has diverged from prices in the past year and is on the verge of dropping into negative territory. Such a breakdown would be a first since the bull market developed in 2001 and would signal that the cyclical trend was reversing. Implication: gold tends to respond relatively early to a shift in liquidity conditions, and lower bullion prices would confirm that the environment was becoming less friendly for financial assets as well.