Uncertainty Prevails

Aden Forecast (06/24/2010)
"June has seen a jump up in most markets and this week's weakness hasn't changed the rebound rises. The gold price has been the clear winner showing that investor's nerves remain edgy. Uncertainty continues to move the markets.

The gold price shot up to a record high on Friday. It's been on a tear for 13 weeks now, and in spite of the last two-day decline, it remains super strong above $1,220. It's now been two weeks since gold and the dollar parted ways. The dollar index is vulnerable below 86.70 we could still see $1,300 gold before this intermediate rise is over.

Silver, gold shares and palladium are similar as they are nearing their 2008 highs. All three have been rising steadily for 1½ years and they are solidly above their 65-week moving averages. Once they close above their 2008 highs at: $20.80 for silver, 514 for the HUI Index and $585 for palladium, they will be following gold in a stronger rise.

. . .Copper has been basing for two weeks now. It's stable and firm above $2.85 and a renewed rise would be getting started above $3.05. Platinum is firm above $1,540. Keep your positions."

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