The gold markets did very little during the course of the week, which
really wouldn’t be a big surprise simply because of the Independence Day
holiday in America. Half of New York was away at holiday to begin with,
and then of course liquidity falls from that already low point during
the course of the week. That being the case, we feel that this market
still need to get above the $1350 level in order to be one that can be
bought with confidence, but we are also bullish longer-term. With that,
we look at pullbacks as potential buying opportunities.
