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Since the present gold bull market commenced in 2001 the gold price has tended to move in waves with large movements higher followed by consolidation patterns which typically involve an abcde movement prior to the next wave higher. At the present time we appear to have completed the latest consolidation pattern and have commenced the Wave 3 movement to new highs. For a recent article providing a more detailed explanation of how the gold price has moved in this bull market please read: Gold Price Consolidation Analysis: 30 Sep 09.
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