http://www.goldprice.org/spot-gold.html
The Gold Price Leapt Straight Up to $1,705, Next Resistance at $1,725, $1,750 Then The Big Heart Stopper $1,800
Gold Price Close Today : 1651.50
Change : 16.40 or 1.0%
Silver Price Close Today : 31.620
Change : 0.447 cents or 1.4%
Gold Silver Ratio Today : 52.23
Change : -0.223 or -0.4%
Silver Gold Ratio Today : 0.01915
Change : 0.000081 or 0.4% I reckon that WAS an upside down head and shoulders on the
GOLD PRICE chart. Once gold cleared that $1,660 neckline about 10:00 a.m. (taking off with a runaway gap) it never even paused until $1,685, took a deep breath, then leapt clean to $1,705. Friends, by the time the janitor pulled out the broom on Comex, the
GOLD PRICE had added $48.10 (2.9%) and stood at $1,699.60. In the aftermarket it's shoving against $1,705 resistance.
Y'all see how those government surprise parties can mess with markets? Gold was building a rally anyway, but that goose from the dithering Eurocrats really put power behind it.
Measured target for this rise is $1,715, but as long as that European party is raging, gold can keep on rising. $1,725 stands next resistance, then $1,750, then the big heart-stopper at $1,800.............
POSTED BY FRANKLIN SANDERS AT
8:31 PM
WARNING AND DISCLAIMER. Be advised and warned:
Do NOT use these commentaries to trade futures contracts. I don't intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures.
NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps.
NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced.
NOR do I recommend buying gold and silver on margin or with debt.
What DO I recommend? Physical gold and silver coins and bars in your own hands.
One final warning: NEVER insert a 747 Jumbo Jet up your nose.
http://silver-and-gold-prices.goldprice.org/2011/10/gold-price-leapt-straight-up-to-1705.html
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