Gold Skyrockets To New Three-Month High
Today's action in gold (XAUUSDO) pushed all of our "Trade Triangles" into a positive position, reconfirming the bullish outlook for this metal. This morning our daily "Trade Triangle" indicator, dynamically flashed a buy signal at $919.70. This market action has caused all of our weighed criteria to move in a positive direction, including our monthly "Trade Triangle" which issued when the price moved over the $932 level.
This market is now in a fully fledged Bull Run and I expected to see the $1,000 an ounce level reached in the not too distant future.
10 thoughts on “Gold Skyrockets To New Three-Month High”
I have not been able to do much in the markets lately but just a note of thanks for all the great info. Hopefully with your continued assistance, I too will become a successful trader some day. In any case, THANKS!, for all the free info. I enjoy your presentations. They are informative. Now, if I would only put them to use & make some money. Keep up the good work. And Thanks again.
With news of the Mortgage Subsidizes and the stimulus package are in place for today (friday 13th), and early of next week, would that temporary has impact for risk appetite for the stock market, and so gold and usd would be sell-off? Thanks
Thank you for taking the time to comment. I'm replying to your remarks around noon time on Friday the 13th. I am not sure how the markets are going to close for the week
At the present time Gold is a sharply higher for the week which I consider to be a bullish sign. The equity markets are generally lower for the week which I consider to be a negative side.
I always pay close attention to how the market is closing on a Friday in relationship to its close the previous Friday. I believe it tells you a lot about the inner workings of the market.
All the best,
You called gold a while ago if i recall... you really are a guru.
Thanks for you positive comments. All I try to do is my homework.
I would Highly suggest Private Growth Gold, granted, it is a long term hold, 2-4 years, but it has historically outperformed gold or gold bullion 6 to 1. You cant day trade it, but it outperforms any and all types of long term savings strategy so far this millenium. It also insulates you from Market risk, Inflation risk, and finally Dollar risk.Typical returns are 30% a year, although with the inflationary state of the Dollar, the sky is the limit, and of course your gold will never go to zero. I wont even go into the legal advantages here, but there are many.....
Quite frankly the mining stocks have not kept up with the precious metal. I'm trading futures as I believe this is a much better way to take advantage of the rise in gold.
All the best, and good luck to you.
would appreciate your suggestion as to the "best way" to play the anticiipated continuing rise in gold - mining stocks which are ongoing producers, bullion - or what?
you guys are doing a great job. thanks for the info, and please keep up the good work.
Wow, thanks for your input and your positive comments. We really appreciate hearing from our readers back here in the trenches.
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