26 April 2012

Gold Daily and Silver Weekly Charts - Gold to $10,000 oz. - Walkin' On the Sun

In general I do not like to post flat out projections for anything at much higher than the current market price, but directionally I think we might be facing a market dislocation in the metals to the upside for some fairly well identified fundamental and technical reasons.

I do not think that a domestic US gold standard is inevitable at all.  I think it is still rather unlikely.

 But I do believe that gold and possibly silver will have an important role to play in international trade.

But first things first.  Gold must break up and take out the small and then the larger symmetrical triangles and retest the previous high.

There was some thinly disguised nonsense about gold on financial television today that is often a good sign of an impending rise in price.