Gold ended last week with a sharp decline, which pulled down the price from the record level of $2,060 to $2,015 as some investors took profit after the massive rally. This morning the price is recovering slightly, holding above the bottom, and climbing back above $2,030. If the price remains above $2,000, the bullish momentum can continue, as the hunger for gold is still at its peak. In other words, the decline we have seen so far is only a correction and not yet an inversion. That said, volatility remains high and traders should be wary of further sharp movements.
