Thursday, February 3, 2011

Gold seems to have stabilized, closing today at its strongest price in two weeks.  April platinum settled $15.50 higher on the day at $1844.10.  I’m still expecting lower gold and platinum prices but they haven’t materialized yet. 

If April gold can manage to stay above $1350 the correction could be over and the secular rally may resume.  Still, the bottom in gold isn’t convincing enough at this point.  Still watching, still waiting.


Apr platinum $1,844.10, up $15.50; Range $1,820.60-$1,845.50
Mar palladium $820.55, up $10.00; Range $805.75-$820.95
April gold $1,353.00, up $20.90; Range $1,325.40-$1,356.60
Mar silver $28.728, up 43.9 cents; Range $27.960-$28.855

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