Wednesday, August 3, 2011

New high for Gold...(again)

Looks like more and more people are waking up to the financial mess that essentially the whole 'fiat' would is in. Can't fix debt with more debt and those who know that will prosper with both Gold and Silver.  Those that play the hard assets markets right should be able to pay off most of their debt and be free and clear on their primary home and other real estate investments.  Cars, credit cards, boats should all be able to be paid off with the dollars that you accumulated with this massive bull run in Gold/Silver.

A colorful daily chart of Gold from early February, 2011.  $1675.9 is the new high produced! (More inflation is on the way...)

Gold is currently riding near the upper Bollinger band and may trade sideways for a bit before taking off towards the $1700 area.  The moving averages are in a bullish formation, short term over the mid term and the mid term over the long term. (Not all seen on this chart)

 Daily chart of Silver from early February 2011.  The breakout over the last few weeks continues and the upwards trend towards $50 should be met within the 2011 year.  This time, it should break through and may make a run towards $60 by year end. 

I'm holding American Silver Eagles and do not plan to sell until the Gold/Silver ratio is under 20.  I will most likely start selling in percentages of my physical portfolio.  The Gold/Silver ratio may go down to 10/1, no one really knows.  The last time the Gold/Silver ratio was under 20 (in 1980), it did not stay there for too long.

Swing trading Gold/Silver ETF's and solid miners should be profitable going forward and into the end of the year. 

No comments:

Post a Comment