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  • Gold Target for Week of October 5th

    Posted on October 4th, 2009 No comments

    Buy: $1001 | Stop: $996 | Target: $1012 | Quick Target: $1019

    It’s been a four week fight with gold around the $1000 mark. We haven’t broken the all time high, but we are less then $30 away. At the same time, gold is having real trouble staying under $1000 which has me leaning towards another bull run by months end. At this moment we could go sideways for a few weeks, but if not, the trend is up and our first target will be $1019.

    If you are unsure what to play, stick to the ETF’s. Either Horizon Beta Pro’s HGU (2x gold miner ETF), HBU (gold bullion ETF), or the standard and rock solid GLD.