The Message From The Gold Market

It wasn't long ago when the newswire were populated with headlines suggesting caution towards gold. Now that prices have soared, fear has been replaced with greed. That’s how it works. That's why it’s best to ignore the headlines and listen to the message of the markets.

Message of the Market:

(1) Gold is clearly attempting to break upper trading channel from 2001. The probability of parabolic or accelerating trend increases substantially once the linear channel has been broken. A quick review of the silver chart illustrates what's taking place in the gold market right now.

(2) The retest of resistance as support tends to follow a technical breakout.

(3) Gold and silver are becoming increasingly volatile. Get used to it.

Gold London PM Fixed


Headline: and Mining Gold Prices at New Record, Silver Hits $40

Gold prices were hitting a new record Friday and silver prices touched $40 an ounce as the precious metal bulls came out in full force.

GOLD Gold for June delivery was adding $12.40 to $1,471.70 an ounce at the Comex division of the New York Mercantile Exchange. The gold price hit another high of $1,474.50 an ounce. The spot gold price was jumping more than $12, according to Kitco's gold index.

Source: thestreet.com