$GOLD Weekly

It would come as no surprise to see the gold price trade sideways for the next several months while dilletantism takes hold of the financial sector once again on the heels of the Greek bailout. But short term paper has to be watched very closely.

At the very least, a breakout over the pennant recently formed will require a backtest. At the very least, $1800/oz. makes a good round number to work with, and may very well serve as the backdrop for some time.

Afterward a backtest, you can see where the gold price might average out, taking your cue from previous historical price fixes, or allowing for inflation using shadowstats. Take your pick.

You can adjust for inflation on any value using shadowstats via Tom's Inflation Calculator.

supersize: Gold Weekly

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