A Few Charts

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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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vhf

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A Few Charts

posted on Aug 28, 2009 12:43PM

As the charts indicate below, gold is approaching the end of the runway for either lift-off or a crash. Action today has been encouraging as gold has moved up and held its gains despite a neutral to slightly stronger USD and falling equity prices. This is definitely a sign of strength and bodes well for next week. Once the major players arrive back after Labour Day, we should see a convincing move either way.

Regards - VHF

Highlight this morning is gold. It gained $11.80 to $960.00 U.S. per ounce in overnight trade. The move this morning completes a bullish triangle pattern.