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Monday, June 22, 2009

Buy some GLD on a pull back ?

Gold 50 day Moving Average is $925
Gold 200 day Moving Average is $870

GLD (SPDR Gold Shares on NYSE)is trading at $90.54 at the close, down 1.5%.

the 50 day MA is $90.90, the 200 day MA is $85.62.

Today's pull back is almost a 2/3 retracement from the April low to recent high.

Buy some here (50 d MA) and maybe some more at the $85 (200 d MA) range.

I believe Jim Roger's comments and think that printing all those Greenbacks can't be good for US inflation.

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