Gold Breaks Downtrend, Sort Of

Posted by Tom McClellan via 321Gold

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American gold traders see gold prices in a downtrend, and wonder whether the December 2011 bottom will hold as a support level. There is not much to like in the chart of gold prices, as priced in U.S. dollars.

But European gold traders see a much different picture. The chart plot of gold prices measured in euros has now broken its declining tops line, and appears to be in a much more favorable configuration.

So who is right?

….read the full analysis and charts HERE

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