November 4
Gold markets continued to soar on Thursday as traders seek some kind of refuge from the drama in Europe. The Euro and the Dollar battled it out during the session, and the EU cut rates. With all of this in mind, money looks like it is going to get cheap – always a boon for gold.
We have been saying this pop was about to happen, and if you have taken the cues – you are in profit at this point. We think this market has a long way to go, and will certainly see the highs again before it is all over with. We like buying dips every chance we get in this market – it is that bullish.
October 31 _ November 4, 2011
The gold markets had a very quiet day on Friday after a large move upwards over the last few days. This is common as a parabolic move will often consolidate as traders take a breath. The market probably has a pullback in it, but with the recent action, we would have to think that a pullback will certainly be nothing more than a buying opportunity at this point. We can’t sell the market, at least not until we get below $1,600 – which is a long way below. We like buying dips, and will aggressively do so.
