MacroVoices #372 David Rosenberg: The Bear Market Bottom Is Not In
Macro Voices
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The Bull Market in Gold
Gold is back up to all time highs. Is we done here? Do we already have the big bull market in gold or is it just getting started? Well, the chart looks great right now. You could argue if you're into the technicals that it's overbought on a near term basis. But I think the fundamentals for gold are going to remain very positive. The dollar has weakened but hasn't yet broken down. We are soon on the precipice of seeing the 50-day and 100-day moving averages converge. That would be a bearish technical signpost for the greenback.
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