Quick update from my last chart but this time on smaller time frames to see what happen a little better.
We where stuck with in this range for a while and saw a sharp fast break out of the darvas box that was quick bought back with major conviction and a slight increase in daily volume exactly what I was looking for.
We got the break out and held support now on top of the consolidation box giving me even more confidence, I guess as the potential of major inflation on the rise and the stock market pumping from QE possibly effecting inflation further I see a rush to hard assets in the not to distant future, So im happy to keep buying gold at the moment, Physical, bullion trust and cfd's
In the short term I can see a run on to 1860 ish but believe there will be a lot more to give in the long run yet
What are your thoughts on gold long term?
We where stuck with in this range for a while and saw a sharp fast break out of the darvas box that was quick bought back with major conviction and a slight increase in daily volume exactly what I was looking for.
We got the break out and held support now on top of the consolidation box giving me even more confidence, I guess as the potential of major inflation on the rise and the stock market pumping from QE possibly effecting inflation further I see a rush to hard assets in the not to distant future, So im happy to keep buying gold at the moment, Physical, bullion trust and cfd's
In the short term I can see a run on to 1860 ish but believe there will be a lot more to give in the long run yet
What are your thoughts on gold long term?