Another Long-Term Bull

Dian L. Chu, in a Seeking Alpha article, points out the bullish factors still working for gold - specifically, rising demand from mainland China. She pegs Friday's drop as "An Overdue Technical Correction." As far as technicals are concerned, she concludes that $1,100 is a buying opportunity and gains should be taken at $1,150.


She evidently doesn't believe that the 2010 trading range has been surmounted. Even after today's slight extension of Friday's plummet, the price is closer to her sell point than to her buy point. However, her recommendation to get in at $1,100 should the price fall to there is hard to argue against, should the price fall to there.