Jesse's Café Américain: Gold Daily and Silver Weekly Charts

"'Gnosis’ was an enormous temptation in the early Christian Church. What made it so insidious was that the Gnostics did not want to leave the Church. Instead, they claimed to be offering a superior and more authentic exposition of Holy Scripture, though, of course, this was only for the ‘superior souls’. It encouraged not only an excited craving for higher initiation, but an almost unbounded arrogance in those who had moved from mere ‘faith’ to enlightened ‘knowledge'." Hans Urs Von Balthazar

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.