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Actionable news in GOLD: Randgold Resources Limited,

An Important Low For Gold And Gold Stocks?

Gold and gold stocks bounced to end the week thanks to an oversold condition coupled with a softer than expected jobs report which likely delays Fed action until December. At one point this past week the market had priced in a 64% chance of a single rate hike by December and a 42% chance of a rate hike this month. A single rate hike is not going to derail the young bull market in precious metals and as long as the lows of this week hold then the bull market is in position to grow stronger by the end of the year.

Gold this week was able to successfully hold $1300 to $1310 for the third time in the past two months. The daily candle chart below shows how resistance in the spring has become support in the...


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