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Gold hitting $1,800 will propel price past $2,000, Linn Group exec says
"Accumulating on weakness still appears to be a solid long-term technical approach," notes Ira EpsteinGold continues to languish as we enter the new year, which is not surprising with all the first quarter optimism generated.
But the technical side will focus on last years' lows holding, eventually promoting a test of 4th-quarter highs, and then $1,800. Whether we can take out the monthly highs on gold or not this year is the question. Ultimately, we think that $1,800 comes out, propelling this market into the $2,300-$2,500 area, but it may take until next year to get the markets going to that degree. In any event, accumulating on weakness still appears to be a solid long-term technical approach.
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