Comment: sierra

(See in situ)


based on your comments, i imagine you caught it too. Gold's trendline from QE2 has been violated, and support will be tested likely much lower. Theres some basis of support at around 1515 or so but below that, not much until 1200 range.

Silver will be dragged with it. support below 30 is at 26.50, but the medium term trend is undeniably south.

i dont intend on unloading my physical. but this still makes me feel very uneasy - Essentially i cant see an economic environment where PM's continue to fall and Equities continue to make new highs. Something will give, and its of my opinion that PM's might be signalling some risk-off sentiment. at the very least it is recoupling with equities. it feels like a bad omen. this could be a bad year.

the only good thing will be that gasoline will NOT be 5$ a gallon this summer afterall at this rate.