GCM09 – Comex June Gold (Last:926.70)

if-june-gold-were-ready-to-flyWe’ll breathe easier when the futures finally push above 935.80 but the significance of the move won’t be as bullish as before, since the rally has been interrupted by a so far three-day correction from the recent high at 934.80. I hesitate to read too much into it, but my hunch is that this subtle sign of timidity portends an unsuccessful struggle if Gold should approach the $1000 barrier within the next few weeks.