Monday, August 22, 2011

P.M. Kitco Metals Roundup: Comex Gold Soars to Another New Record-High on Continued Strong Safe-Haven Investment Demand

By Jim Wyckoff

"Comex gold futures prices came within a whisker of $1,900.00 an ounce Monday, and closed the day session sharply higher and near the new all-time record high of $1,898.60 an ounce."[ comment: In spot market trading, it has crashed through 1900 and has traded as high as 1913. 
"Bulls' next near-term upside technical objective is to produce a close above major psychological resistance at $2,000.00."

These price moves are scary.  Something must be up, and that is what is moving the market.  I smell something out there that hasn't been disclosed, but is getting close to being disclosed.  Whatever it is, I think it must be bad.
 

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