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More Slippage in Gold Looks Unavoidable

By: Rick Ackerman, Rick's Picks

 -- Published: Friday, 22 August 2014 | Print  | Disqus 

The bearish pattern shown makes clear where December Gold is headed, and the weight of it looks too great to suggest that any other outcome is possible. With the stock market eking out new record highs each day, interest in bullion is on the wane. However, although gold (and silver) may act dispirited, there is little technical evidence of an impending rout. For that reason, I would encourage you to bottom-fish aggressively at the 1257.70 target, albeit with a very tight stop-loss. With a free trial subscription, you can join us at ringside in the Rick’s Picks chat room if you think you might enjoy the thrill of stalking The Top.

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 -- Published: Friday, 22 August 2014 | E-Mail  | Print  | Source: GoldSeek.com

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