The setup for gold is positive. We do need to breakout of this base. If gold can climb above $1,250 that would be an incredibly positive sign in the short-term. We should get some momentum above that level.
We have to be wary of this $1,180 level. There are a lot of sell-stops there, and a lot of technical damage can be done if gold breaks that level. But it feels like there is a renewed appetite for physical gold and I’m extremely positive going into 2014 after what’s been a very, very tough year.
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