Bloomberg’s latest weekly survey revealed gold traders and analysts are the most bullish since 2004. [The Contrarian: Inverse Gold ETFs]
Still, some newsletter writers are encouraged by gold holding the line at $1,700 an ounce, and predict the next leg up in the bull market could carry prices as high as $2,200 an ounce, reports Peter Brimelow at MarketWatch.
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Full disclosure: Tom Lydon’s clients own GLD.