13 February 2014

Gold Daily and Silver Weekly Charts - Defeated When We See Them Running

There was intraday commentary on the precious metals here. You may wish to read it if you have not.

Gold is starting to threaten its 200 Day Moving Average.  A technical chart is included below. It is also starting to approach a short term overbought condition.  It is not clear yet how relevant that might be given some of the strong supply and demand issues at play at these price levels.

When will the manipulation of the precious metals end? The market manipulation will be defeated when we see the manipulators running for their lives, most likely ahead of a memorable break in the gold and silver markets. Try not to be caught within the blast radius of their downfall, which will be more contemptible than tragic.  The only tragedy is the damage done to the innocents by the needless greed of power and pride.

Have a pleasant evening.