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Buzz & Banter

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Much like Lil' Kim I've been checking out gold all day. While Kim had airport security looking for her gold, I was simply monitoring the August Gold futures, which are now at an important juncture we'll need to watch tomorrow. It will take a move to 350 to break a triple bottom, and if that occurs it would suggest the end of the move for August Gold that began in May.

The Philadelphia Gold & Silver Index (XAU) was down nearly 3% most of the day as well. The first sell signal on the XAU is at 74 while the important resistance is 82, where it failed after attempting to break through it last week.

Jason noted the excessive sentiment related to gold last week as well. Check it out here if you missed it.

No positions in stocks mentioned.

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