Gold can double from here over the next 5 years.

"Despite all the hype about its multi-year rally, gold is actually lagging many other commodities in that it hasn't yet eclipsed its 1980 high on an inflation-adjusted basis, Holmes says, noting the same is true of silver."


Posted Sep 28, 2010 12:00pm EDT by Aaron Task

Gold hits another record high of US$1,308.00, the eighth time it has hit a new high in the last two weeks!  Read article here.

Related posts:
Buy more silver on weakness. 
Real value of gold.

SPH: Closing above $4.20.

SPH experienced a nice white candle day with price closing at $4.21.  This is the first time it has closed above the $4.20 resistance level in more than two years. That this took place on the back of volume expansion (volume was three times more than the previous session) gives hope that we could possibly see higher prices in the near future.

The higher highs in the OBV shows continual accumulation.  The MFI has formed a higher low and being at a very low level now, it has much room to rise before becoming overbought. The MACD has turned up and seems poised for a bullish crossover with the signal line.

Immediate support is now at $4.16 as provided by the 20dMA.  Immediate target is $4.30.

Related post:
SPH: $4.20 is still resistance.