Spot Gold Bullion – Weekly Trading Chart - September 3, 2009
Gold jumped higher today breaking out of its 6 month pennant pattern. If prices can hold into the weekend then I expect the $1000 per ounce to be reached quickly. Also Gold stocks took off like rockets, which are a strong sign that gold will follow through on this breakout. It will be interesting to see what happens from here.
read more... http://financialsense.com/fsu/editorials/vermeulen/2009/0903.html
BIGGER PICTURE FOR GOLD
The gold price has clearly broken out of its pennant pause pattern. The magnitude of the potential lift is roughly $70, from 910 to 980. Look for a 70-point lift from the breakout, which should take the gold price to around $1030 soon, real soon. The vast energy built over the last several months will come to power the move onward and upward.
read more.... http://financialsense.com/fsu/editorials/willie/2009/0903.html
