August 8, 2009 – Nothing has changed over the past few weeks. The XAU Index is still testing overhead resistance around the 152-154 area, which is the same area of resistance discussed many times recently.
One of these days – probably by early or mid-September – the XAU will hurdle this resistance level. In the meantime, look for the XAU Index to do some more ‘backing & filling’ over the next few weeks, just like I am expecting for gold and silver. But the major trend for the XAU remains up, again just like it is for both gold and silver.
Mining Stocks
James Turk 8 August, 2009ABOUT
My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.
