Gold's technical target is $1550, according to the Aden Forecast. If Wall St. thinks gold's hit it, the next move is......down. NG is yawning, too. GRS chart has a gap to fill at $9.24. RBY chart has a gap to fill at $4.63. May is the worst month of the year to own gold as for monthly price performance.
Seems to me there are plenty of signs that gold will be down in May.
I still think RBY will touch $4.63 on or about 5/5 to close that gap.
I'm wondering if the inflation fears are outweighing the gold price moves... that the costs to produce the gold are going up exponentially vs. the smaller percentage gold gains. There's got to be some reason the gold miners are being ignored through these larger upward gold price spikes!!!
At the macro level, PM and PM stocks represents honest work and investment, which is hated by gov(Timmy), fed, banker the galaxy masters, and crooks and dumb(hedge fund monkeys) who are the majority of wall street.PM and PM stocks will win in the end, after a painful and patient fight. No shortcut. JMT.
Then again... taking a look at CEF (Canadian Central Fund)... they aren't mining the stuff, just mostly holding bullion, and they too are trading relatively flat (even went down a bit today) despite the $25 (1.6%) gain in gold so far today.