With the COTs having cleared in the PMs & goldstocks poised to move higher it looks like it is time for gold to move up & break the 6 year downtrend line & move solidly away from it.
A move up through 1300 will lead to gold putting on a few hundred more ending the year in a strong uptrend with the bear finally well clear & behind us.
This move up in gold will coincide with the global sharemarkets bull run coming to an end & we will see risk averse funds head to gold which will give it more ommph.
2018-2019 should see large rises in the PMs as the financial system gets shaken.
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Nick Laird Chartist / Member of the Goldbroker.com Editorial Team
I opened Sharelynx.com up in 1998 and have spent the last 16 years making charts and collating data. I have been saving, storing and collecting all facets on gold for the last 3 decades and have built up a huge collection. I'm a one man show doing all the hosting webpage design and installation plus chart creation and databasing. I also supply charts and datafeeds to a number of other gold themed websites. In the late 1990's I was very active on the Kitco Gold Forum and then later on the LongWave forums. Since mid 2005 I have pulled away from any public interaction with forums and now spend all my time collecting and collating data and making charts and new webpages.