Gold Just Placed A SIGNIFICANT Long Term Technical Signal, “You Might Want To Pay Attention To…”
SilverDoctors.com
January 22, 2017
The yellow metal has risen now four straight weeks – this mirrors what the buck has done during that same period, which is to drop four straight weeks. Is it as simple as that? Probably.
If the buck continues to move lower, then gold will probably continue to rally. In addition, we can also see a “golden cross”, which is a long term bullish signal that you might want to pay attention to…
From Peak Prosperity:
On Friday gold rose +5.90 to [+0.49%] to 1210.20 on moderately heavy volume, and silver climbed +0.08 [-+0.50%] to 17.11 on moderate volume. Once again, the dollar played the tune; an initial dollar rally caused gold to sell off, and once the buck reversed, gold rebounded. Gold’s move on Friday was almost entirely a currency effect.
PM is moving slowly higher, led this week by palladium which staged a massive +4.7% rally on Friday. What’s up with palladium? It is up 58% over the past 52 weeks. I confess, I have been ignoring palladium, since it tends to move (imperfectly) along with the auto industry rather than with the rest of PM, but this move seems to be outpacing any move higher in (at least) US auto production.
The Rest…HERE
