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The gold markets rose during the week as the fears of a fiscal cliff in the US continue to rock the markets. The candle from the week looks very bullish, and as a result we are bullish of the markets yet again. This is a market that we hold a core position in the GLD ETF and physical metal as well. The market isn’t one that we can short as the overall tone is so firm over the long run, and we see no reason to short under these circumstances as the gold markets have so far to go in our opinion.