By Cory
Opportunity Knocks… Will Gold Bulls Answer?
I apologize as posting will be a bit light today on the site. I am busy putting together the weekend show which will be mainly market/investing focused this week and next. Plus the response I am getting with questions for Quinton is quite extraordinary. The full interview will be included on our weekend show.
In the meantime here is a straightforward gold chart from our friend Chris Kimble at Kimble Charting Solutions.
…This post was intitally posted at SeeItMarkets. Click here to visit the site.
Gold investors have enjoyed a strong start to 2018.
After a brief pullback into early February, the shiny metal has charged higher once more.
The question now: Is a major breakout on the way for gold and precious metals bulls?
Looking at the chart below, you can see that a strong base has been built in both Gold prices and the XAU Index (Gold and Silver Miners). These bases look very similar and have take a few years to build… so IF both breakout at the same time, it would be rather bullish for precious metals.
This is a big spot for metal heads!
At the same time, Gold bulls need Silver to play along. Silver offers a higher beta and is typically seen as “risk on” when outperforming.
Currently, the Silver/Gold ratio is testing a confluence of price support: its 27-year rising channel and 2003 & 2008 price lows. Bulls need to see this support hold, followed by a strong move to the upside. Stay tuned!
Note that KimbleCharting is offering a 30 day Free trial to See It Market readers. Just send me an email to services@kimblechartingsolutions.com for details to get set up.
Twitter: @KimbleCharting
Source:: The Korelin Economics Report
The post Valuable Insights from Around the Web – Fri 16 Feb, 2018 appeared first on Junior Mining Analyst.