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« Gold Shares: Different This Time? | Main | Silver: A Look Ahead »
Thursday
Apr242008

The Precious Metals Correction

As we are now of the opinion that the US dollar may spend some time going sideways, or perhaps even making some gains, we also now think that precious metals are going to take a significant drop.

Gold Chart 240408

We know we may sound a bit like a broken record, but gold is still too far above its 200 day moving average! This gap must be closed, and we think that closure will happen within the next couple of months. That means a $100 haircut for gold, which will hit gold stocks hard and also drag the silver price south.

Please click here to read this in depth article on gold, silver and precious metal stocks.

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