1
September
Gold May Break Out to Record over $1,300/oz, Graham Says
1 September 2009 Bloomberg.com
Gold may advance to a record $1,325 an ounce if it first breaks out of a symmetrical, triangular pattern, a move that may occur in the next one or two weeks, Standard Bank Group Ltd. said, citing trading patterns.
A so-called topside breakout would be indicated by a close at more than $980.85 an ounce, Darran Grabham, the bank’s technical analyst, wrote in a note yesterday. That would signal a short-term bull trend to at least $1,100 an ounce, he said. Gold traded today at $952.80.
http://www.bloomberg.com/apps/news?pid=20601012&sid=aqg7fd0Bs6lU
