Saturday, January 29, 2011

PRECIOUS METALS - CONSOLIDATION OR FURTHER CORRECTION ?

Over the past fortnight, the ongoing correction in the precious metals sector has caused quite a bit of heartburn for the 'goldbug' community.

While the recent troubles in Egypt have provided support to PM prices, the ongoing equity market correction could drag prices down further.






Take a look at Silver prices over the last month! That's quite a sell-off.
Mr Radomski of Sunshine Profits has an excellent chart on Gold.






I'm not buying anything yet, and will wait and watch to see how the markets open next week. Meanwhile, the USD & the Swiss Franc continued to benefit from increased market volatility.

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