29 August 2012 18:00

Gold is holding around the $1,660 level today. It appears that there is some profit taking occurring at the moment, which is putting downward pressure on price. The fact that price is holding up pretty well is confirmation that the market is currently strong and this is a good augur for higher prices to come.

Higher prices are probable, but by no means certain. Also this is what we currently believe, we do not know. So we continue to watch and wait.

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