A Sad Week

This has been a very long and sad week for me.  My trusted companion of 14 & 1/2 years,  Burley passed away this past Monday morning.  There are things in this world that are way more important than politics and gold.  Burley was one of them and she will be sincerely missed.

I don’t have it in me to write today, so I will leave you with this.

The chart says it all.  Gold finished strong this week despite all the misdirection and attempts to hold it down.  Gold is building a strong base from which to launch its next advance.  Shorts have been hammering gold all week but it looks like they may be running out of gas.

The next test comes between the $1162 and $1165 level.  If that is cleared next week, only  $1175 stands between the shorts and a quick run for gold to $1200 and beyond.

I’ll be back next week as Burley would have wanted it.

Till then, good luck and good trading.

More Gold Market Analysis:

• China, Gold and the Dollar
• Inflation and the Price of Gold
• Gold Retreats
• The Gold Crash Of 2011
• Silver: Poised To Move!

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