Gold Stable, But Producers Not So Much – "Technically Speaking" w/Jim Wyckoff

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Kitco’s Jim Wyckoff talks about the gold markets as poor Q2 earnings results start to trickle in from gold producers. According to Wyckoff, charts may be suggesting the gold market has put in a near-term low. Goldcorp suffered net losses of $1.93 billion in the second quarter due to a writedown of their Pensaquito mine in Mexico. “If we see gold prices move about resistance at $1,350, that’s not only going to invite interest in the gold market and physical market but also in stocks as investors see that prices have put in a bottom,” he added. With regards to the bearish headlines coming out for gold lately, Wyckoff says that once the sentiment gets so bearish, it is a solid indication that a bottom may be near. Tune in now to hear Wyckoff’s market rating for gold and silver. Kitco News, July 25, 2013.

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