By Przemyslaw Radomski
Minyanville
This week was full of action for precious metals investors and traders. Gold, mining stocks, and (especially) silver rallied in the first days of the week only to disappoint on Wednesday and Thursday. No wonder; the rally didn’t have strong legs, as gold’s strength was meager compared to that seen in the euro — another USD alternative.
In today’s essay, I will provide you with three gold-related charts (courtesy of http://stockcharts.com). Each will tell a different story about gold’s performance, but ultimately, they will all point in the same direction — the direction of another move lower in the price of gold.
Let’s start off by taking a look at the chart featuring gold priced in the British pound.