Gold Rally: Only a Matter of Time – Bill Baruch

from Kitco NEWS

With gold hitting a seven-week high last Wednesday, many investors are hoping to see strong momentum carry over into this week.

But one trader is also warning that while the gold market is ready for a breakout, investors still need to be patient. Bill Baruch, president of Blue Line Futures, said on Monday said that it is only a matter of time before gold breaks its current trading range.

Gold prices are moderately up and trading near their session highs in late-morning dealings Monday. As a sign of the overall technical bullish momentum in the marketplace, traders stepped in at the start of the week and bought early price weakness. June gold was last up $4.00 an ounce at $1,352.00.
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