Gold likely to regain some sheen

Well, well. The decline in Gold from $931 down to $771 was quite a surprise to many traders, but you were forewarned of the impending sell-off. However, we are now faced with a situation. The speed of the decline is making me a bit nervous about staying short. Remember the time when it gapped down from around $876? Well, we needed that nervous selling to continue without a pause. Instead, we are seeing some sideways movement. While Gold still remains weak in the big picture, this sideways movement is sufficient warning for me to wave the read flag in front of the bears! Take a look at the chart, and take some action. Ramki

Gold to regain some luster
Gold to regain some luster

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