Friday, August 26, 2011

Time for Gold to Move Sideways?

It's been a volatile week for gold, which fell $100 on Wednesday and sits today at $1785, up slightly from the recent lows.  So far the move has been pretty typical for the metal, which over the past 3 years shows a clear pattern of hitting overbought peaks followed by a sharp drop and then a few months of sideways consolidation back to the 50 or 100 day moving average.

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