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Written by Adam Hamilton - Resource Investor
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Thursday, 25 November 2010 09:18 |
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Following gold’s sharp retreat over the past week or so, traders are wondering how low it will go. Is this metal in a pullback or a correction? The former is a minor and healthy mid-upleg event, a great buying opportunity. But a full-blown correction is a major upleg-ending selloff, meaning the worst is yet to come. Interestingly, today’s gold seasonals are one argument in favor of the milder pullback scenario.
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