Cutting Blog is a personal website containing my views on an eclectic range of topics selected as they arise from my own experience, from current news events or as a result of reading diverse sources.
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| jul 02 2009 | | Gold Trading Ranges. | Looking at broad averages the long term chart shows the following.
Between Dec '04 and Sep '05 gold traded at an average $450/oz.
It then surged up until May '06 with a 44% gain.
Between May '06 until Sep '07 gold traded at an average $650/oz.
It then surged up until Mar '08 with a 38% gain.
Between Mar '08 until now gold is trading at an average $900/oz.
The next leg up at an average 40% takes us to $1260/oz.
Despite huge interference in the market by the Plunge Protection Team I can see nothing fundamentally that can stop the continued rise.
We are getting greater volatility which allows for selective trading but hold and increase your core position at all times.
Are you ready?
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