GL
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?
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:
GL
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?
GL
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?
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Looks like today may be the start of the move down to retest the bottom as I mentioned in my May outlook for gold...
ReplyDeleteInlet, do you see Silver following the same pattern? Thanks, James
ReplyDeleteJames - 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.....
ReplyDeleteThanks for the silver follow up.
ReplyDelete