By: Mike Hammer
It’s Friday and your friendly Gold Enthusiast is tired. It’s been a hectic few weeks with the markets returning to volatility levels we haven’t seen in a while. I hope you were holding some VXX from its lows… All the commotion has been good for gold, which is now solidly above 1200 again and looks like it’s trying to make 1225 it’s new floor.
At the same time, sadly, your friendly Gold Enthusiast does not see this as the immediate launching point for the next run up, because of all the reasons we’ve been talking about over the last few weeks. Luckily another pundit wrote an article yesterday that we agree with wholeheartedly, so rather than write up our own version – which would be different! – we’ll point you toward this one instead. Enjoy your weekend and come back next week ready for anything!
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