Monday, September 17, 2007

Gold ready to spring?

The Gold market looks like its getting coiled again. Normally big moves follow. So far this morning Gold is up strong so I'd be leaning towards an upward move out of this level. Also technical rule #1 could come into play here. If so we could look for a similar sized move in the coming weeks as what we just saw. That would suggest that Gold could add on another $70-$75 fairly quickly. I imagine the PM stocks will follow and break out to new highs.