06 October 2014

Gold Daily and Silver Weekly Charts - Peak Empire, In Time of Plague

Sculpture after Albrecht Dürer's Knight, Death, and the Devil
Beauty is but a flower,
That wrinkles will devour.
Brightness falls from the air;
Queens have died, young and fair.
Dust hath closed Helen's eye.
I am sick, I must die.
Lord have mercy on us.

Thomas Nashe, A Litany in Time of Plague

We had a nice bounce after an overnight smackdown with gold tagging the 1180 support area.

There was intraday commentary about the interesting divergence between gold and silver here.
I am focused keenly on what I consider to be one of the greatest macro-economic events my generation will probably see in the Bretton Woods era when Nixon took the world off the dollar/gold standard.

 That set the world out upon some very uncharted seas that were easily overlooked in the sturm und drang of the Cold War.   But that all changed in the 1990's.   Few have yet perceived it, and what it implies for us.

And so here we are.  Peak Empire.

China comes back from holiday on the 8th.

Gold and silver need to break the downtrend of lower highs and lower lows. That is the technical market analysis in a nutshell.   I do not know when it will happen, and what it will lead to next.  One can only forecast, relying on probabilities.
Have a pleasant evening.