Monday, November 24, 2008

Is Gold Finally Breaking Out?

If you're trading or investing in gold, I'd recommend checking out this free video piece from INO.com: Is gold the last store of value?

The video was shot Friday afternoon, and some of the predictions have already come to fruition - namely that gold would quickly retrace 50-62% of it's previous move (which Dennis Gartman refers to as "the box") and trade in the range it's currently in.

Towards the end, you get a better perspective on the recent pullback in the context of the overall gold bull market - important to note that gold is still in a bull market. And in a bull market, you should be a buyer, not a seller.

Like many of you, I have been quite frustrated in gold not "acting like it should." I am not a gold bug by any stretch of the imagination, but I think it's an appropriate investment at this point in time, as Obama continues to fill key economic positions with money printers.

Related post from Saturday: Three Big Pieces of News for Gold Investors

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