Tuesday, December 1, 2009

Gold, in ‘Healthy Breather,’ May Top $1,200: Technical Analysis

(Bloomberg) -- Gold is taking a “healthy breather” and may resume its advance above $1,200 an ounce this year as the dollar weakens against global currencies, according to Barclays Capital. Gold’s support level at $1,127-$1,131 remains “unchallenged,” Jordan Kotick and other analysts at Barclays wrote in a report Nov. 27. “Rather than a deeper pullback, ideally we expect a $1,130-$1,200 range to develop over the next week or two.”

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ao7wv6Qqo_To

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