Gold Price Got You Giddy?

Were you a major buyer at $850? If you were not a buyer last month, you were not buying weakness, as you see the Gold Price has moved nicely off of $860 recently, that means gold has moved into the strength category; along with this comes giddiness. Keep the same game plan - Long Gold and accumulate on weakness, emotional control and money management. Many opinions are that the dollar may crash and the gold price could spike, however intervention is likely to prevent both from happening, and so far we have orderly moves. How long this will last, no one knows.

Here is a quote from Dan Norcini from (www.jsmineset.com):

"As you can see on the chart, gold broke into the resistance zone marked out on the chart and then managed to poke its head above that. The ability to hold above this level for another day would signal that a drive to $990 is underway. Expect a fierce battle should price move to that level. If gold does not stop and pause for a bit of a breather at that point, it could well signal that things are spiraling rapidly out of control."

Prepare for the worst, hope for the best.