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Thursday
Dec312009

Gold: What a Difference a Month Makes

DateThursday, December 31, 2009 at 02:53AM

Less than one month ago today, the price of gold was trading above $1,200 per ounce, and hitting record highs what seemed like every day.  Since then, the fortunes of gold have reversed dramatically.  After breaking below its 50-day moving average before Christmas, gold attempted to rally back above that level on Monday but was quickly met with additional selling.  Today, however, gold is making another run at the 50-day after failing to make a new low yesterday. 


Gold Front Month Contract
Is this another dead cat bounce? Or is gold getting back on track?  What do you think?


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