We're looking for a test to that level, perhaps next week.
It's nothing more than a psychological spot; it's like 10,000 on the Dow. In reality, the markets themselves don't see anything special about that $50 level.
I don't know that we'll see those high prices again for the foreseeable future, and we're into a sideways price trend now. Though prices are higher than in early 2003, they're definitely down to much more manageable levels.
It's another earnings week ... so we'll see how the companies fare and decide from there whether you're going to be a buyer or not.
Gold is consolidating after reaching new ground. The target this week has been to close above $600, and now the market is waiting for the next push.
Gold has regained its status as an investment vehicle. It's one of the better performing assets in 2005, and I expect gold to work up to $600 next year.
It's like predicting the market. You like to see someone else's analysis of what might happen.
Everybody is looking at the end of the Fed tightening cycle.
We want to see whether or not the following months follow on up out of here after September gets out of the way. We could be looking at the highs right now.
