Wednesday, November 11, 2009
What's The Next Stop For Gold?
After hitting our first upside target of $1,110 two days ago, gold prices backed off but still managed to close at their best levels today for a new record high close in New York basis the spot gold.
The question now is, what’s going to happen to gold after it hit our first target level?
The main trend continues to be positive and we believe that any pullback in this market should be met with good support. It is possible that we could see a pullback of $20-$25 which would not change the overall positive trend of the market which we see continuing until the end of the year.
As readers of this blog know, we have an upside target zone of $1,250-$1,300 an ounce for gold. While that target zone is still in place, we believe that the huge “energy field” that we’ve discussed in our earlier gold videos is capable of pushing this market higher.
In this new video we explain some of the areas that we are looking at and also some of the places where you can place tight stops to lock in profits.
Just Click Here to watch the video and as always the videos are free to watch and there is no need to register. We would love to hear your views on gold in our so please feel free to leave a comment.