GOLD breaking out!

Friday, November 21, 2008 | posted by RedApple
, | with 0 comments »

Gold is trading strong today! We just cleared 797, the 55d moving average, now trading above 800.

We are seeing good buying flow on the back on USD weakness, continual talk of China/Middle East buying and real physical market shortage. Given COMEX delivery is coming up next week, I think that we can get a good squeeze to 910, especially if cta turns to buy.

Today's chart:

Daily Chart from Nov 2007 to Nov 2008:

***** Update 28 Dec 2008 - for latest news and charting for Gold and Gold stocks, please check updates from our blog: Gold Boom Doom - Gold Related Blogs