It seems as if some one or some party has been putting pressure on gold during the past few weeks. I can't prove it, but today the pressure seems to be (mysteriously) off. Gold is up 13.70 as I write this morning with the gold mining stocks (at last) showing signs of life! The next step is to get April gold above 1600 and staying there! Is the long 17 month correction in gold and gold miners coming to an end? If we're not there, I believe we're close.
Below, GLD, my proxy for gold. Gapping above the descending trendline, and the histograms are turning bullish. RSI is also turning up. GDX and GDXJ are both higher this morning.
The Fed, the Bank of Japan, and Britain's central bank are all creating and spewing forth their respective fiat currencies. Can money "manufactured out of thin air" buoy the economies of the developed nations? ... Log in or subscribe to continue reading.
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