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Why the technical chartists will be wrong again on gold and silver
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
arabianmoney.net / By Peter Cooper / April 25, 2013
While we like to consult the technical charts when making forward predictions on asset prices these charts do only tell you the past story and have limited use in trying to discern the future.
We recall at the end of last year when the charts showed an imminent price collapse for silver that actually turned out to be a price rebound. So often these graphs prove misleading, and ArabianMoney reckons that is again the case now for gold and silver.
$1,000 gold?
Technical analyst Clive Maund is particularly gloomy at the moment and can see gold falling back below $1,000 and silver goodness knows where. But which chartist spotted the price plunge coming this month? None of them.
How could they when the central banks of the US and Japan did it deliberately as an adjustment to allow the Bank of Japan to launch its $1.4 trillion-a-year money printing program?
Thanks to BrotherJohnF
2013-04-24 22:00:03
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