Friday, May 10, 2013

May 2013 gold outlook - update May 10

We got a dead cat bounce off a bottom.  Is it a final bottom?  Hard to say, but it looks like gold is ready to pull back again and possibly test the bottom.  Here is a chart of GLD:


5/10 3:17 pm EDT Today gold took a hit as interest rates went up and the dollar went over 100 Yen. Take a look:

This seems to  be a possible test of the recent lows?

05/13 - Question - do gold and silver move in concert?



  1. Looks like today may be the start of the move down to retest the bottom as I mentioned in my May outlook for gold...

  2. Inlet, do you see Silver following the same pattern? Thanks, James

  3. James - all the PMs will probably will have similar patterns. But, metals other than gold (jewelry/coins) have industrial (silver in circuits, platinum in catalytic converters) uses so they are often more volatile than gold.....

  4. Thanks for the silver follow up.