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Breaking Down Gold’s Comeback

by Greg Guenthner, Daily Reckoning.com.au:

You’ll find the price of gold moving higher again.

It’s only been two weeks since the big crash. But that hasn’t stopped the yellow metal from staging a comeback. For the first time in five weeks, gold ended trading Friday night with a weekly gain under its belt.

After a furious two-day drop that saw gold prices dive from more than $1,550 to the low $1,300s, gold has recovered to the $1,470s. Not a bad move for nine short trading days.

So that’s it? Gold has clawed back about half of what it lost during the two-day drop. It’s back. We can just forget about it and go back to our normal lives, right?

Hardly…

Read More @ DailyReckoning.com.au

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