I have to admit that on the Daily charts, GOLD looks extremely likely to continue higher.Here are some of the gold stories we've put in the link-vault this week:
On the long term charts, it is in a strong sustained uptrend.
The sentiment situation seems out of whack and skewed to the upside.
The good thing is that you can be long with a defined stop loss somewhere around the $1000 level.
Last night on CNN they told me that the dollar was finished and that GOLD was at new highs.
Today on Bloomberg, literally everyone and their mother was quoted as calling for GOLD higher....CHARTS
Gold Analysts Are Far From Gold Bugs
Gold, ‘Off The Charts’, May Target $1,500: Technical AnalysisFrom MarketWatch:
Gold Will Keep Advancing After Reaching Record, Survey Shows
The Definitive Gold ETF Guide: Gold Bullion ETFs 101
Just a quick note, we are not fans of the shiny stuff. If it is moving because of inflation there are better ways to profit. If it is moving because of a 'safe-haven' needs there are better ways to preserve. If it is moving due to social apocalypse you are better off with lead.