From a longer-term technical perspective, the path of least resistance for gold prices remains up, and will remain up until the longer-term price downtrend is broken.
While currencies around the world continue along their path of decreasing purchasing power, gold increases along with its sister metal, silver.
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With gold acting more like a risk asset lately, the easing of EU tensions has been more bullish for gold than bearish, as gold has followed the general path of the other major commodity markets on any given day.
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With Cyprus and the other Eurozone wrecks looking for any path out of their morass, the gold market may well be reflecting an expectation not that the Euro states will liquidate their gold holdings, but that they will post them as collateral which can have a similar effect on the market.
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There are no early technical clues to suggest a market top is in place for gold, and at present the path of least resistance for prices remains sideways to higher until near-term technicals suggest otherwise.
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There are no early technical clues to suggest a market top is close at hand for gold, and at present the path of least resistance for prices remains sideways to higher until near-term technicals suggest otherwise.
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There are no early clues to suggest a market top is close at hand and the path of least resistance for prices remains sideways to higher for gold.
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There are still no early clues to suggest a market top is close at hand and the path of least resistance for prices remains sideways to higher for gold.
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There is ample evidence that restoring gold convertibility would put the world back on the path of jobs, growth, and a balanced federal budget.
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While Africa is a continent rich in resources, with 12% of the world's oil reserves and 42% of its gold, we cannot follow too narrow a path to development.
But this week the path forward may have been found by one of the most unlikely and ridiculous gold mining firms ever to trade on an exchange.
Mining giants like Rio Tinto, Freeport-McMoran and Glecore figured the roaring Chinese demand for raw materials would bail them out of any mega- takeover that meant borrowing a bundle of debt to diversify into aluminum or gold or copper was the path to growth, higher profits and ecstatic shareholders.
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