Loading ...Who knows? Maybe this move in PMs will prove to be a false breakout, but I seriously doubt it.
One thing I know. It is acting very similar to the way it did in the great bull market from 2002 onward. It is not every day that a four year downtrend line is broken to the upside, and broken with authority on high volume. We will see.
I agree. This is a bit like the 1999 breakout that did come back but not to a new low. However, it might not be so llike that. That was the announcement of the Washington Accord on limiting gold sales.
This breakout was on no news. Perhaps this time it was on Yellen’s tesimony, which was no news but huge news if you see what I mean. Difficult to say. Maybe it is just time for the gold bear market to end.
After such a long bear market, I am just watching it carefully. No doubt that we will get pullbacks and corrections. GOLD has run higher, I believe, than previous rallies.