14 October 2015

Gold Daily and Silver Weekly Charts - Paper Bullion Marketplace Fading Away- Pet Rocks

Gold and silver both had nice rallies today as they moved even deeper in the overhead resistance of the long bear market.

I have updated the gold chart with some new indicators of where we are.

The next big level for gold is at 1210, although 1200 is likely to be a significant 'psychological' barrier.   And of course, gold needs to hold within the new uptrending channel it is establishing on any retracements and corrections.

The Bucket Shop is becoming very quiet, like a museum, but empty, devoid of humanity.  More like a ghost town perhaps, an artifact from a place that time and custom are passing by.

As of today, gold and silver are outperforming stocks year to date.

Let's see if gold and silver can truly break out from here, or just form a different trading challenge.  I have not noticed any genuine reform in the paper markets.

I wonder how the fellows who say that gold and silver 'have no fundamentals' would explain this?  I am sure it would be misleadingly distracting.

That seems to be the currency and major export of America's elite ruling class and their servants these days.

Pet rocks.

Have a pleasant evening.