Gold continues it's fantastic run.
Just a word of caution to the permabull gold bugs.
The 50 day ma is at $1675.80 & the 200 day ma is at $1495.30.
After rallying by almost 47% over the last year, we could see a sizeable pullback without doing any technical damage on the charts.
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In the meantime, continuing concerns of the sovereign debt of Club Med , Central bank interventions in the currency markets (like the SNB yesterday)and debt and deficit worries in the U.S.A. will continue to support gold prices. Expect more volatility ahead of President Obama's Speech on ''job creation'' and Ben Bernanke's speech this week!
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