Gold: An Investment Market Update

Source:

"Gold is clearly oversold in the short term and due a bounce."

Gold fell for the eighth straight session Wednesday to have the longest losing streak since June 2006 (silver broke its losing streak). Gold is clearly oversold in the short term and due a bounce. The question is whether the bounce will lead to another challenge of resistance at $1,000/oz sooner than most expect or whether the bounce is a prelude to further weakness, which could see gold fall to as low as support between $850/oz and $880/oz.

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