An unusual TECHNICAL ANALYSIS
GOLD prices today rallied after an overnight low of $1,231.57 hitting a high of the day at $1265.48 and holding steadily higher while SILVER which overnight hit a low of $19.65 broke out above $20.00 to $20.31 but is now back below $20.00 and weakening.
What does this mean for GOLD? Some say the metal may be on its way for a move above $1,300 based on a STRENGTHENING EURO DOLLAR and also a STRONGER JAPANESE YEN as analysts are gauging signs of economic recovery from Europe to Asia while the U.S.A. remains in question due to runaway debt and concerns rising against the U.S. DOLLAR's world reserve currency status.
NOTICE THE CHARTS below as GOLD holds strong. This will be monitored very closely as additional concerns are rising on PHYSICAL GOLD being in short supply in U.S. RESERVES:
NOTICE the STRONG EURO here today. CHARTS BELOW are CURRENT and so are subject to change when REFRESHED:
JAPANESE YEN also RISING intraday:
GOLD rises and holds stronger relative to SILVER:
The US DOLLAR is dropping on concerns of countries moving away from it as a world reserve currency:
...developing...
