Well that's the idea, "You've got to be init to winit", "no gain without pain", "risk it for the biscuit" -all phrases designed to be helpful for the risk taker. So after the decline in gold from 940 to 905 comes the rally from 905 to 940 - so where does that leave us? Still long and looking for the next leg up to take out the 1000 dollar highs. I said before as long as 900 holds the market remains bullish in the medium to long term, targeting $1137 and that still holds true. Sterling gold has been very quiet between 560 and 570 but has developed some bullish divergences in RSI readings and MACD indicators that suggest the consolidation phase is ending. £700 is my target there. The end of 2009 is my timeframe, so now is the time to buy - "speculate to accumulate" as the City boys are wont to say.
Good luck!
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