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Market Insight: Gold, Silver, Palladium

By Vadim Pokhlebkin
Tue, 22 Jan 2013 23:15:00 ET
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"Gold Nears $1700 as Japan Stimulus Move Fans Inflation Fears," wrote The Wall Street Journal on January 22.

 

Commenting on the rise in gold prices, Mike Drakulich, the editor of EWI's trader-focused Metals Specialty Service, notes that,

 

"Gold is challenging key upper resistance, silver trying to breakout decisively above its resistance. Palladium also challenging upper end of its resistance."

 

However, Mike warns subscribers that so far in gold,

 

"...the rise from 1625 into 1663-1695 area could be a corrective rally."

 

Only "decisive breakouts or failures at these key junctures will likely tell very important stories."

*****

UPDATE Jan. 24, 2:23 p.m.: This week, gold bounced off the resistance levels Mike had identified -- and has fallen sharply since, including a 1% drop on January 24. Right now, Drakulich identifies the implications of this move in his just-released subscriber-only video: "Gold Rally Fails at Key Resistance (Jan. 24, 2013)." Watch this 3-minute video update and see Mike's daily analysis and forecasts for gold, silver, platinum and more with an online subscription to EWI's Metals Specialty Service.

*****

 

Learn more about EWI's trader-focused Metals Specialty Service now >>

 

 

 
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