While the action in Gold (physical metal as well as mining equities) has scared-out; worn-out and frustrated many over the past six years consolidation as evidenced in the Monthly chart above, nothing much has changed from a longer-term perspective as the yellow metal has put in three higher lows over the course of that time period and continues to set its sights on the all important $1375 - $1400 zone.
While further work remains in order to clear the 1375-1400 hurdle, we believe that when such development does indeed occur, will likely set the stage for a powerful Phase III advance of its secular bull market that began in early 2000's.
In the meantime, both investors/traders may want to focus their attention on the bigger picture; i.e. longer-term view as both the short and intermediate-term blips and dips serve only as noise. With Gold having just experienced a sharp rapid rise, we would not be the least bit surprised if some digestion/consolidation were to take place in order to build further energy/cause before its next attempt at the all important 1375-1400 area.
Thus, for those whom remain engaged within the Gold and precious metals equities space, both patience and discipline are required and will likely serve you well in the offing.
While further work remains in order to clear the 1375-1400 hurdle, we believe that when such development does indeed occur, will likely set the stage for a powerful Phase III advance of its secular bull market that began in early 2000's.
In the meantime, both investors/traders may want to focus their attention on the bigger picture; i.e. longer-term view as both the short and intermediate-term blips and dips serve only as noise. With Gold having just experienced a sharp rapid rise, we would not be the least bit surprised if some digestion/consolidation were to take place in order to build further energy/cause before its next attempt at the all important 1375-1400 area.
Thus, for those whom remain engaged within the Gold and precious metals equities space, both patience and discipline are required and will likely serve you well in the offing.
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We are not financial advisors. Always conduct your own research and read our full disclaimer at insiderfinancial.com/disclaimer/
