Gold fork

In gold this bullish fork still looks valid however bottom is about to be tested. Green blob shows where I would be looking for support in gold, fall to about $1290 looks likely.

Zooming out looks like this.

As usual silver is moving similar to gold, down when gold goes down, up when gold goes up, except in more exaggerated and volatile fashion. If silver has no monetary properties but gold does, is that not a wierd co-incidence? Why would silver the metal with allegedly only industrial uses do that?

Theres not much evidence for a similar fork in silver however I have sketched one in anyway.

In both gold and silver I remain convinced that the bull market is resuming.

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2 thoughts on “Gold fork

  1. The end of silver fixing mid August might boost the price for the coming months. Some analysts are expecting a much bigger bullish trend on silver than on gold. It’s going to be interesting 🙂

    1. Very true the end of silver fixing will be interesting, wont be the end of silver manipulation by any means though. As I understand it physical price is still lead around (pushed down) by massive leveraged speculation on futures market

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