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If you go to Barchart.com, Futures, Commitment to Traders, you'll see the large specs are still long gold. They're supposed to be the "smart money". When they start letting go, then I'd drop it as well.
There's also seasonality to consider. Gold typically rallies at the end of August.
So...if the large guys are long and gold 'should' rally in a few months, I'd hold on a little longer.
Just my .02
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Nate
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