Friday, June 24, 2011

Gold Gets Hit With the Ugly Stick

by Bespoke Investment Group

A look at gold shows how quickly a chart can go from looking good to looking ugly. Yesterday, it looked as though gold was going to break above its early June highs and make a run for its all-time highs from the beginning of May. Today, gold is on pace for its worst day since January, and it is now trading slightly below its 50-day moving average.



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