Commodities Essential. 17 February 2012

Time to take a stand on gold.


First, look at where the moving averages converge - that is where I think gold will ultimately find a near-term bottom if it hasn’t already.


Second, the move above the 200-day moving average back on January 10th and above the 100-day moving average back on January 25th likely provided catalysts for all those overtly bullish headline quotes I listed above. But above all, the Federal Reserve provided even more fuel when they extended their ‘extended period of low rates’ to the end of 2014.


Commodities Essential. 17 February 2012