The vertical white line to the right side of the chart is the end of the 2011 year. The upper trend line ends at that point just over the $1600 level. That is just $200 over what the price is now and is a conceivable ending price for 2011, it would also be the 11th straight year that Gold has been up.
Continue to watch the US Dollar Index as it has been weak lately trading near the lower end of it's range.
If the US Dollar continues it's decline, expect $1500 Gold soon. If it continues in it's trading range, Gold will most likely continue to have a major resistance level just over $1400 and trade flat through the summer.
If Gold is at $1600 a 35 to 1 Gold Silver ratio places Silver at $45.7 area. The ratio is currently around the 40 area and if it should continue it's decline, 35 to 1 ratio is a definite possibility at the end of this year.
Dollar cost averaging into both Silver and Gold is a great way to protect yourself from the oncoming inflation.
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