Gold/Silver Ratio suggests Gold Price Breakout Ahead!

[GoldNugget]

James Turk the founder of goldmoney.com has published an update to his founders commentary which covers gold and silver prices.

Here is his most recent post:

Get Ready for the Breakout posted at goldmoney.com

current level of the gold/silver ratio, which closed in New York today at 57.9.

In my January 29th alert I noted: "If the ratio moves below 58, it is breaking out of the pennant. If it moves below 55, it is breaking out of the rising uptrend channel. When that happens, I expect both metals will be soaring, with silver clearly leading the way."


We are moving closer to that moment in time when silver breaks down from its current pennant formation, which is the first step needed for the precious metals to resume their uptrend in this ongoing bull market. If this first step happens, then I expect everything to fall into place. A break out from the rising trend channel will not be far behind, and by then, the precious metals will be near or at new high prices - with silver leading the way.

Corrections like the current one - even if it lasts longer than I expect - will not stop the metals from climbing higher. The precious metals are in a major bull market, and their prices still have a long way to go before they reach their final bull market tops.

[delkulara]

That was a great read.
Thanks GoldNugget you post some exelent material.