Tuesday, 26 April 2011

Gold And Silver Correction Possible But Store Of Value Demand - Especially From Asia To Support

"Silver and gold are lower today after the record nominal highs seen yesterday (gold marginally and silver significantly). Gold reached $1,518.30 per troy ounce, a nominal record, while silver climbed to $49.79 per ounce, its highest nominal level since the short term parabolic spike in 1980. A period of correction and consolidation has been expected for some time and it may ensue as gold and particularly silver are overbought in the short term. However, absolutely nothing has changed with regard the primary fundamentals driving the gold and silver markets."

Read the full story here:


Note: This would be a healthy thing, as we always want our bull markets to be as orderly as possibly, as this is how the real money is made. Bull markets last much longer in a orderly, slow ascent. Eventually we will have the parabolic blow off top although, as all bull markets eventually end this way. We aren't there yet.