Gold – A Stronger Breakout Attempt is Developing

The bears are trying their hardest not to allow gold to surpass the $1600 mark as the last four attempts were foiled in their tracks. This type of relentless selling at that specific mark could not be done by the small speculator alone, my suspicion is that a larger financial institution or swap dealer is to blame. What they are realizing now as opposed to the last successful attempt is that the number of headwinds is just too great to keep a lid on prices.