Has gold peaked temporarily? If you watch the technicals, this is one scary chart. Check out Figure A. Gold has formed a classic double top. I love gold long term but we could see a pull back to the $1600 level over the next few weeks. You don't have to short the precious metal, but I'd take some profits if you haven't already.
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| Spyder Gold Trust ETF (GLD) |
This is not a recommendation to buy or sell any securities. DAK was short GLD at time of publication but positions can change at anytime.
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