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Gold’s Next Rally Is Coming Soon

Posted July 30, 2008

"Sometimes, however, there is a delayed reaction in gold, which happens more often than efficient market theorists would like to admit. Gold’s fundamentals are still bullish." — Ed Bugos

by Ed Bugos

Baltimore and Vancouver, British Columbia — (TFN):  Last week we saw a bounce in the stock market that threatened to send gold prices down to the $920 mark. After a lightening advance celebrating the approval of the quasi-nationalization of America’s too-big-to-fail mortgage providers, the market caved on reports of continued stress in the homebuilders.

The Dow gave back almost five days’ worth of gains in one fell swoop.

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So should we not have seen a better bounce in gold? Maybe it’s too early to call the Dow.

Further weighing on gold prices were a lifeless bounce in oil and the market’s shift in focus to signs that gas demand is ebbing. Sometimes, however, there is a delayed reaction in gold, which happens more often than efficient market theorists would like to admit. Gold’s fundamentals are still bullish. Read on to learn why.

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