In both the stock market and the precious metals markets, investors face a paralyzing collection of bearish and bullish evidence. Everyone is looking for the asset that will emerge as the winner in this new era of finance.
Gold bounced off the 50% correction line after last week’s plunge. The metal’s next move will either strengthen the bullish reversal or signify a continuation of the 10-month bear market.
Gold made an exciting jump above a key resistance level today. Unprecedented money supply growth in the United States is a boon for commodities prices.
The US dollar is showing weakness as compounding pressures of devaluation rack the currency. Gold is taking advantage of this weakness and moving higher.
Gold put in a double bottom at the key support level of $1,680, and is now experiencing some bullish action to the upside. Did gold finally turn around?