by David Brady
Sprott Money
Today’s article will be brief. We’re still in no man’s land in Gold and Silver. However, we do have some significant levels to watch for to signal which direction they choose to go next.
GOLD
We fell from a peak of 2089 in August to 1673 in March, a decline of 20%. Then we rallied to 1920 in June, a rise of 15%. This was followed by a sharp drop of 9% from 1920 to 1750 just 4 weeks later. Now, we’ve rallied to the 50-day and 200-day moving averages at 1836 and 1829 respectively.