TSX:LSG.DB - Post by User
Comment by
Valentine_MSon Jun 22, 2013 9:27pm
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Post# 21565444
RE: RE: Obviously not making money!
RE: RE: Obviously not making money! Gold has no obvious chart support till $1050, and as the last two legs down have demonstrated to anyone who did not already know Gold is a very technically driven commodity.
That may not be the bottom, gold has really just started a secular bear market but I would expect a rebound off of $1,050 for a month or two and then it will make another try below $1,050. Then it all depends on if people think the miners can get their costs under control, certainly they are not under control now but gold under a thousand would force them to do something about that.