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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?


To: Giraffe who wrote (24797)12/22/1998 11:59:00 PM
From: Giraffe  Respond to of 117012
 
today from buysignals.com ...

Tuesday, December 22, 1998
Hold Gold!

Today's decline in gold stocks below XAU 63 was on relatively light volume. This latest drop in price has been characterized by lack of bids rather than selling, suggesting that technical measures are correctly identifying the current price range as support.

It's possible that today's break of XAU 63 calls for further weakness to 60 but over-bought indications argue as convincingly for a strong rally from here. When the rally does occur, it should easily regain the 70 mark, 10% above our buy price yesterday at XAU 63.4.