Gold And Silver Are Going Nowhere [SPDR Gold Trust (ETF), iShares Silver Trust (ETF)]

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April 20, 2015 12:41pm NYSE:GDX NYSE:GLD

gold and silverMichael Noonan:  There is always news going on everywhere, none of it positive for the United States or for Americans, and none of it positive for the rest of the Western world.


There is nothing that we can relate to for the prospects of gold and silver.

The charts are in stall status as the following illustrate, but even at that, the reasons for acquiring and holding physical PMs has not changed.

As an aside, but one that deserves full attention, the one currency against which the fiat Fed “dollar” has not rallied is the Chinese renminbi. According to the Bank of International Settlements [BIS], it is up 12% against the “dollar” in the past year and up 34% over the last decade.

The fall of the Fed “dollar” continues on schedule.

This last hurrah rally for the fiat Federal Reserve “dollar” offers the best opportunity to buy at these low prices.

It may seem like tired advice, but owning anything else, especially in toxic paper form, just does not make financial sense.

Nothing to add to the chart comments.

gold_weekly_17_April_2015

gold_daily_17_April_2015

silver_weekly_17_April_2015

silver_daily_17_April_2015

 

This article is brought to you courtesy of Michael Noonan from Edge Trader Plus.


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