11 July 2014

Gold Daily and Silver Weekly Charts - Poised on a Knife's Edge

The World Cup final is on Sunday, and the punters have Germany and Argentina as fairly even odds with a bit of an edge to the Germans.  I would call it pretty even, especially since it is only one game, and a typically low scoring one at that which can turn on a few events and an emotional tide.

Speaking of too close to call, gold and silver turned in a satisfactory week's performance, and are on the verge of breakouts.

We have been here before. Let's see if they can find firmer ground and sprint a little, or will we continue this slow slog through the marshlands of international monetary push and pull.

The metals bears have grown fairly complacent, and their talking trash is running high.  If gold and silver can break and run, it would be quite the change in trend and in sentiment.

I am holding a good sized gold position since the latest selling bottom, and am back into silver. My long term positions never change.

The World Cup will not be the only action in Brazil, as the BRICs will be having their annual meeting there next week.

See you Sunday evening.