Bullish on Gold
Over the past few weeks, I have been increasingly interested in the long side of gold for several reasons, not the least of which is well-known investor Dennis Gartman's proclamation that he's no longer "bullish of gold" (whatever that means). Neither am I, but I am bullish on gold.
Some events got me interested in the yellow metal Wednesday. Notably, the collapse in February gold to new multi-month lows as it threatened to return to its Sept. 26 low at the $1535 level. And there was the continued slide in the euro to new 11-month lows, below the 1.30 level. That was a plus because, as you know, when the greenback moves higher, as it has been, everything denominated in dollars gets whacked -- and that's what's been happening to gold. So, what if the euro pops back above 1.30 and the greenback takes a hit? I'll tell you what: Gold will pop, too....591 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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