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For educational purposes only:
Gold is testing a downtrend line spanning over 1
1/2 years, and will likely break thru it, sending prices sharply higher in the
coming week.
As prices have fallen in gold over this period, the
open interest has also decreased, signifying that the market is strong and ready
to turn around and advance. Gold prices have risen from $270 to over
$275 during the last few weeks. Copper prices have risen and the
stock prices of gold producers have also risen, foretelling of gold's likely
advance here.
Possible ways to take advantage of this move in
gold:
1) buy gold futures
2) buy the stock of gold mining companies:
NEM (Newmont Mining), ABX (Barrack Gold), HM (Homestake Mining)
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