If my work in spot gold is accurate, then the SPDR Gold Shares (NYSE: GLD) has unfinished business on the downside that will break the Dec-Jan lows at 105.31 and 106.01, on the way to 103.00-100.00 to complete the larger correction off of the 12/03 high at 119.54. For such a new downleg to emerge, my suspicion is that gold weakness will be a function of a sharp surge in the dollar. The question is what will trigger a flight to dollars. Global stock market weakness? European economic and/or “union” disintegration? Or continued fears of a contraction in China?

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of

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Comments

Daine
26 Jan 10, 20:52

Thanks

I really love to read some articles that have great positive impacts on its reader and benefit by reading such article especially concerning Gold and the stock market. I admire these writers in sharing their views and or opinions that can enlighten the mind of the readers. Great Job and continue inspiring readers.

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