Here is the gold chart year to date.
The run up from February to March held and now we have had this breakout in June. It has peaked for the moment in July, where it goes from here is way above my pay grade. Who knows.
Wouldn't surprise me at at to see it test that $1280 - $1300 range again. If it breaks that, you could see it retrace even the February / March gains and get back to the $1100 range.
I don't see it, but I am not very psychic either so something to be on the lookout for.
I'd like to see gold test that round $1300 number and push back over $1350 or even $1400, that would be continuing the trend.
Silver is similar but different. Here is the silver chart year to date.
Silver has been more volatile and more profitable this year. Trend of the past week has been down. Will it continue? There isn't much inventory below this until we get back to $18 or so which is a significant drop from the $20 - $21 range we touched.
Again not psychic, but this recent downtrend seems temporary to me.
We still haven't plunged back into the giant gap up in early July.
Silver has had more strong up phases than gold so far this year so it is normal for gold to catch up some. I still have faith in silver and hold tight.
