- Gold should be greater than $2,000/ounce if you adjust it for the 1980 high
- If there's a currency crisis both gold and silver will rise
- Prefers Silver over Gold because (a) it's so depressed (b) potential for more gains on a percentage basis
Today I charted out $GLD and $SLV (Gold and Silver ETFs) and both are testing ceiling resistance levels. SLV is plotting a 2008 ceiling breakout which Gold took out 10 months ago (November, 2009). $SLV needs to rush the opposition (sellers) successfully at $19.50 resistance to run free (imo, mid-20s, top of ascending channel, see chart update link).
GLD, SLV Approaching Highs From May, June (Charts) - August 31, 2010
Chart Update, Ratio Analysis: GLD, SPY, SLV, IWM, TLT, UUP, GDX, GDXJ, SP-500 Index - August 25