Gold is starting the day up, but barely. Don't be surprised if the next couple of days are profit taking corrections. Those who got in gold last year or before would be silly not to peel off some profits. This should do little to stop the bull market in the long run. All indicators remain pointing towards a bull market in gold as the dollar continues to struggle, businesses show no signs of growth and the US deficit will only grow two fold, especially if the Senate passes health care reform.
As always, watch the correction and feel free to jump in. However, with prices this high the risk goes up almost daily. A major correction could happen any day, not because of financial indicators, but because of investor fears. Many people have been burned by holding too long and they have become jitter to corrections. Thus, if one appears to be starting a flood of gold sellers could drive the price downward in one shift swoop.
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