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Is the gold market putting in a very formidable bottom?

*CNBC, by Alex Rosenberg & Peter Schiff, July 8, 2014

” ‘Most people on Wall Street were very impressed by [the jobs numbers] yet the price of gold did not surrender any of the gains in the previous week,’ Schiff pointed out.

‘So to me, we’re consolidating those gains, we’re putting in a very formidable bottom in gold.  We still have all of the naysayers, the Goldman Sachs, Societe Generale, all these guys that were negative calling for $1,100, $1,000, they’re digging in their heels, they’re just as bearish as they were at the beginning of the year despite the fact that they’ve been wrong for six months.  So you have a lot of negativity, but I think the technical picture is improving rapidly for gold.’ ”


*This information is solely a highlight of the opinion of a third-party publication and is incomplete.  Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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