Is this Gold’s Moment?

China’s move on reserve requirement and the global central bank liquidity facility should give a power boost to gold, in our opinion.  This really smells like the global Cen Banks are going all, and we mean ALL IN.  In fact, a joint central bank/IMF facility to fund Europe wouldn’t even surprise us.

This could be the catalyst for a quick move up to resistance at $1,800 and new highs shortly thereafter.   It’s important the $1806.60 high in the Feb12 futures is taken out in  fairly short order to negate the formation of a potential  H&S pattern.  Always with a stop.   Stay tuned.

(click here if chart is not observable)

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This entry was posted in Black Swan Watch, Gold, Sovereign Risk, State and Local Government and tagged , , . Bookmark the permalink.

2 Responses to Is this Gold’s Moment?

  1. Pingback: Is this Gold’s Moment? | Forex news

  2. Pingback: Wednesday links: good models | Abnormal Returns

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