Friday, July 15, 2011
The short term 15dma is heading up and has broken upwards over the 50dma. The 3 moving averages are in line for a continuation bull run to the upside. The $1577 area will be support, then the even number of $1600.
With this early bull move in the Gold market, it is poised to make a huge rally going into the 4th quarter of the year when the seasonal trends kick in and really move the Gold market.
Gold miners are also moving up nicely with the metal. To reduce risk, the 'senior' miner ETF GDX and the Junior GDXJ should be solid plays going into the latter part of the year. (Barring any stock market crash).
The Silver miner ETF SIL is also moving up along with the metal. As James Turk stated, if the Gold Silver ratio is above 20, Silver is a buy.
Labels: Gold Silver GDX GDXJ SIL