Dec 30th Gold

Gold was down ~$10 in today's trading which was expected after a 3 day run to the upside and topping at $1414 on Tuesday afternoon.

Those vertical dotted lines on the chart are Fibonacci Time Zone tool which is stretched from the high on Oct 14th to the high on Nov 9th. It projected another peak on Dec 6th, but was one day early. The 6th was actually an up day and the 7th a down day, but hit the all time high at $1432 an ounce.  The next peak isfor Thursday the 31st, so we will see shortly if it is an up day as well as a possible breakthrough over the $1432 level. (Optimistic thinking for a Gold bull)

Silver closed at $30.51 and is looking quite strong as it is trading above the 13 day short term moving average and has not dipped below for any length of time over the last few months. Investors are looking to purchase Silver at lower prices and they are coming into the market at every opportunity

The $30 level may be becoming a support level instead of a resistance level. Is it too early to say goodbye to ~20 Silver?  I know some people wish that they purchased more last Summer when it was trading between ~$17 and $18 an ounce.

January is a strong month for Gold based on 'seasonal' data. If the financial markets hold up, the miners should do well along with rising metals prices.