ZOOM ZOOM ZOOM – GOLD AND SILVER

dots Posted on September 6, 2007 , filed under Stocks | Print This Post

Gold is now at $695 and a few dollars away from approaching $700. Silver is at $12.40 and inching closer to breaking $13. The USD Index is under $80.40. Gold futures just broke $700. Combine all this with a Fed interest rate cut as I mentioned below and you have the formula for an explosion in precious metals prices. I wrote the article below more than 24 hours ago and set it to post early this morning. Let’s hope gold and silver can maintain and break these levels without seeing another false breakout. The strength in physical prices has slowly seen upticks in the last few sessions, it looks amazing and is undoubtedly supported by institutional investors betting on the next leg of the bull run.

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2 Comments »

Comment by Michael Cerulean
2007-09-09 21:36:00

Zoom-zoom-zoom indeed! I think we’re seeing liftoff for the next major leg up in this generational gold bull market.

Bernanke inherited Greenspan’s mess, so all the blame does not rest on his shoulders. But, he just unleashed what I call the “inflation trade.”

It was either save his fellow bankers – or, unleash the inflation monster. You only need to look at the gold chart to see which path he took.

I really enjoyed your site,

Michael Cerulean

http://goldsilverstockcharts.wordpress.com/

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Comment by Andy
2007-09-11 06:59:31

Thanks for reading Michael. I took a look at your site. We can work together on some articles if you like.

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