What this looks like is the classic shape of a bubble peaking - the question is whether that will drag gold down too. Silver's meteoric rise didn't really drag gold up - gold just kept plodding along, so I don't see the same shape forming (at least yet...)
(trying to upload a picture of the LSIL chart but can't).
Did no one notice this little titbit in the MSM?
Alex the fly city boy trader is using his bonus paid in bank shares as collateral for a loan from the same bank to buy gold...
Hmmm. This latest missive from Moneyweek makes me a lot more concerned that a bubble could happen in gold.
I feel like one of those children trapped in the back of a car, going "are we nearly there yet?".
RB would be all over this sort of e-mail like a rash.
TMH
I'm very interested that gold been uncharacteristically stable for the last two days, barely moving out of the $1290 to $1295 band. You don't think there might be attempts to prevent it from breaking through $1,300?
What's a bit sad is that if RB had put his STR fund into gold when he STR'd in 2004 (?), he'd have his house by now.
Oh well. I'm glad he's still posting, even if I don't agree with his gold position.