Sunday metals pre-game, 1/12/2014
Lots of good comments in the post below -- I hope this short update doesn't derail the conversations. But I thought it would be a good idea to present an updated version of the weekly chart that should tell us rather soon what gold and silver will do for at least Q1 (and probably a lot longer if $1215 can't hold a weekly close).
How soon? Probably by months end, as the critical 30-week MA (purple) is quickly closing in on the fundamental long term trend line (see magnified version below main chart).
A bonus chart: commenter Elmer H. brought to my attention the Canadian dollar's recent collapse. It's correlation with gold since 1995 is strong. Let's keep an eye on this.
Posted by GM Jenkins on Saturday, January 11, 2014