27 April 2012

Gold Daily and Silver Weekly Charts

Gold and Silver were held in range again, and continue to wind within the symmetrical triangles that are fairly visible on the chart.

Unless there is a major liquidity event, most likely triggered by Europe, the bias seems to the upside.

Eric Sprott warns that there are 'global shocks coming' in this interview at King World News. I think he is right.

I put a heavy hedge back on what is now a straight up long bullion position, sans miners.

Have a pleasant weekend.  See you Sunday evening.