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Is Gold Poised for a Pullback?

Source: http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold/0/0/is-gold-poised-for-a-pullback
Posted on Tuesday, January 6th, 2009 | In Energy Markets, Gold Markets
Contributed by: Sean Brodrick (http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold) -

It sure looks like gold is poised for a pullback. Here are two charts that illustrate my point …brimg style=WIDTH: 480px alt= src=http://local.content.compendiumblog.com/uploads/user/7e88b461-578b-47f3-88ec-038e212ad053/aa0ff38d-9bb9-44a5-bba5-8be30d8f6977/dollar.png _width=75 _height=75brimg style=WIDTH: 480px alt= src=http://local.content.compendiumblog.com/uploads/user/7e88b461-578b-47f3-88ec-038e212ad053/aa0ff38d-9bb9-44a5-bba5-8be30d8f6977/gold1.png _width=75 _height=75brThe rally in the U.S. dollar is weighing on gold just as it bumps its head on overhead resistance. It should head lower from here. The longer-term picture for gold is still good, and corrections are a normal part of any market.brbrIn Wednesday’s Money and Markets, I’ll have some ideas on how to play a potential gold pullback.

Last 5 posts by Sean Brodrick

Tags for this Post:
Energy Markets, Gold Markets




About Sean Brodrick (http://blogs.moneyandmarkets.com/blog/red-hot-energy-and-gold)

Sean Brodrick joined Weiss Research in 2000 as an analyst, bringing more than 25 years experience as a journalist and financial analyst to the position. He is Weiss Research’s small-caps specialist, especially in natural resources, and is the editor of the company’s Red-Hot Canadian Small-Caps, as well as a regular contributor to its daily e-letter, Money and Markets.

Previously, Mr. Brodrick was the investment director of The Sovereign Society, the world’s leading publisher of offshore asset protection strategies and global investment opportunities.

Recognized for his expertise on natural resources and Canadian and Australian investment opportunities, Mr. Brodrick has been featured on many financial talk shows, including CNBC Squawk Box, Fox Business, CNN, The Glenn Beck Show, Your World with Neil Cavuto and Bloomberg Market Line. He is a weekly guest on Market Matters Radio, a contributing columnist to MarketWatch.com and a frequent commentator on one of Canada’s premiere financial websites, HoweStreet.com. His report, “70 Days to Empty,” has garnered acclaim for its analysis of the forces pushing America toward its next oil crisis and was described by The Daily Reckoning as “the most important report you’re likely to read this year,” while his knowledge of uranium has helped investors earn solid gains on the commodity.

Mr. Brodrick holds a B.A. degree from the University of Maine.

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