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Gartman: ‘Gold is a broken commodity’

Posted on 17 June 2013

The high in gold is almost 2 years behind us. We’ve failed to make a new high and broken many trend lines support. Gold is a broken commodity and is likely to head lower. Gold is likely to head lower even with all the news of the Fed expanding reserves to the system.
The trend seems to be downward, and if $1,200 is broken, the next level of support is $1,000. Because gold is simply valued upon what someone else is willing to pay for it, the simplest methods of valuation are often the best. Gold doesn’t generate a cash flow, there is simply a supply and demand, and where the two meet is the price……………………………………..Full Article: Source


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VRS - who has written 39496 posts on Opalesque Commodities Briefing.


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