Markets Relatively Quiet

Aden Forecast, Weekly Update (06/17/2009)
"Since last time, the markets have been relatively quiet. Despite the volatility, they've essentially been moving sideways within trading ranges. Ongoing events in Iran, however, could influence the markets in the weeks ahead, depending on what happens. We suspect this could become the next wild card.

Gold's C rise is still underway. The past week's decline did not change this. Gold, silver and gold shares declined to a key intermediate level yesterday and they're bouncing up from this level today. If gold can now stay above $927 (basis August), as well as silver above $13.90 and the HUI gold share index above 335, the C rise is still firm and just getting started. Since the summer months, especially June and August, tend to be seasonal low times for gold, don't be disappointed if we see a lull for a while more. More important is to use weakness to buy new positions."

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