Gold Update

As you can see, gold is once again approaching the $660 support level. I don't necessarily think the correction was due to gold being enormously over bought because it wasn't. I think it was more the fact that the USD was over sold. In my last update I said that a correction to the $660 level was a possibility. You can also see the support at the 50 day MA. I don't expect this consolidation period to last much longer. I will be adding to my gold stock positions here and will continue to do so when the price bumps up against the 50 day MA.