Tuesday, November 22, 2011

Gold Rallies off Support Level

The chart below shows the SPDR Gold ETF ($GLD) after it pulled back to support (horizontal white line) and bounced today. The technicals point to Gold moving higher in the coming days and my long-term outlook remains very bullish.

If you are looking to buy into Gold, this week would be a good time to build a half of a position based on the chart. **GLD is my firms largest holding.

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