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Bloomberg Gold Article

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"`The sell-off hasn't finished yet,'' said Alan Mandel, head trader at Alan M Trading Co. in New York. ``I wouldn't be surprised to see it go under $600, and then stay there a while before there's a resumption of another dramatic move higher.''

Gold for June delivery rose 20 cents to $657.70 on the Comex division of the New York Mercantile Exchange. Futures dropped to $636.80, shedding as much as $20.70 during the session on speculation prices have to decline further to attract new buyers.

In London, gold for immediate delivery fell $2.70 to $654.90, after earlier dropping as low as $637.55. Before today, the metal had gained 56 percent in the past year.

Gold may fall to $575, said Tom O'Brien, editor of the Gold Report. ``Gold wants to build another floor like the floor we had for two and half years, but then it will go higher,'' O'Brien said."

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This is pretty much my outlook. I'll be watching for a base after August, if my outlook is correct, before buying more gold. I'm watching the downward action - to perhaps give clues to if / where / how high we will go upon a rebound.

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we've still got a bit of correction to go through IMO.....I don't think $575 is on the cards,it's building up too much momentum,but $620-650 range for the next couple of months would be very healthy.The longer it consolidates,the better the chances of a BIG breakout.

same with commodities as a whole,still have a bit further down to go,copper is a good one.

long term trend suggests $6000/ton is fair value.....when we get there is anybody's guess,but it might be because of increased supply,rather than lack of demand,which is a better scenario for the commie-based stocks.

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What !! Now its back up to $673 - ARRGG still not buying yet, to risky! Hope im right :unsure:

Gold is inherently risky - liquid, volatile, speculative. It'll never lose all its value (barring the development of alchemy), but you could always lose the majority - hence the rule of thumb of 5-10% of your portfolio in gold.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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