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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (41213)	12/4/2012 10:05:30 AM
From: Keith Feral	Read Replies (2) \| Respond to of 222794

I might jump on the bandwagon if it pulls back to $1580 or lower. $1700 gold prices are all fluff. With the way the oil prices are behaving, there is really no reason to get excited about any pullback in gold. Oil prices are still within a buck or two of the $85 support line. The other thing that concerns me about gold is the price action of gold stocks like NEM. That stock was down 3% yesterday to multiyear lows. Gold stocks don't seem to be sharing the same degree of optimism as gold prices. I think gold equities are probably a better indication of the direction of gold prices right now.