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9/4/09

Chart of the day is....

...gold, futures, weekly candle back to August 2007.

(click to enlarge)

If you've noticed that gold has something of an issue about the U$1,000/oz line, then you're not alone. Hey, I don't wanna be a party pooper with this post...I for one am long the stuff more than any other stuff in the world, but let's acknowledge that a little break above $1k/oz won't impress many outside the wingnut brigade and moonshouters....the thing that will set the finance world on fire is if it breaks $1,000/oz, falls back, re-tests the line from above and doesn't break it. When that happens every other advert on daytime teevee will be Cash4Gold.