Gold bullion continues what we feel is a bottoming process. As stated before, we want to see the lows around $1525 (a triple bottom) hold. The last low of $1554.30 needs to hold as well, but a close below $1525 would call into question whether gold remains in an over all, primary bull market. Right now, our assumption is that what we are seeing in gold is a correction within an over all bull market, and not the beginning of a new multi year decline.
Gold Update – March 5 – 2013