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Well, that is not necessarily the case with GLD, even though I agree with the conclusion from the chart doing TechAnalysis. If Yellen is talking about increasing rates, then that means, the USD is going to jump up, and then you know what happens to Gold when USD jumps up. That is what is 'really' going on along with all the typical demand/supply pressures of gold and the fact that India will be entering the most bullish phase for Gold between Aug (today) and Oct end with its celebration and gold buying spree. Gold Bonds in India are on sale right now and they are Bond Certificates that pay 2.75% in interest while holding x grams of gold (upto 500 grams per individual). Unfortunately, it is only for residents of India, but India has 1.3B in popululation and even if 5M of those guys buy a bit of gold, it creates huge demand. This is tranche 5 of those bonds, which means that earlier ones sold out like hot cakes. Gold.....Shiny......Gold! I love it, and am long for the long haul from $780-$910, with positions in ABX, FCX, SLV, and others stocks also. I am definitely biased, but also follow the macro picture closely. Just my 1 cent on it.......
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