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June 29, 2013

Gold Closes in on Near-Term Low

by andrew.clark.

This graph is the continuous gold futures contract as traded on the CME.  Gold is close to a near-term low of 1,167.60 USD.  Gold bulls are saying that now is the time to buy as the various QE’s of the Fed has stoked the inflation pipeline and when Fed eases off, the price of gold will rise again.  The bears are saying there is little or no inflation in the pipeline and that as the U.S. economy continues to improve, gold’s losses will taper-off and stabilize at a level sustainable for miners to continue to extract gold.

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