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Double Top in Gold?

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Not much talk today about the stunnng reversal in gold for the second time in the last month. Gold has now made two attempts in overnight markets to break above $1,900 and more specifically the $1,915 to $1,920 range. Both times the move has failed miserably.
Interesting to see the home page of Seeking Alpha this morning featuring the potential move of gold going to $2,000. Ominous sign of a peak?

Read the full article on Seeking Alpha. 

Disclosure: Long FCX. Please review the disclaimer page for more details. 


Comments

Mark Holder said…
Wow! Gold down $70 as I write this comment. Originally submitted this article to SA around noon yesterday. Always interesting to see how technical this market has become. Once the double top was confirmed with the close yesterday any follow through today immediately brought in more sellers.
September 7, 2011 at 9:27 AM
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