In a Seeking Alpha article, Michael Michaud says to wait for a significant dip before buying gold. The nub of his analysis is his interpretation of the three recent record highs as a triple top, and divergences between three technical indiators' levels and the gold price itself. His target price for a buy-in is $1,050, which seems quite low.
Given how gold's dropped this morning, his article is certainly timed right.
Thursday, July 1, 2010
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