ZGG7 flirting with 600 levels

Discussion in 'Commodity Futures' started by DeltaSpread, Jan 9, 2007.

  1. This AM the GOX broke recent support level from mid Nov. From here the 6 month bottom was put in only a month earlier in the 1st week of October. That would mean if a retest occurs, another 7.5% drop from current levels.

    Anyone scaling in a position here??
  2. Realist


    No plans to scale back in until the XAU reaches 115-120. This would mean gold down at 580 or so.
  3. I think we'll likely see a further decline into AUGUST -SEPT hitting a trough- countered along the way by brief rallies and renewed hopes of breaking 700.00