SELL GOLD

This is what John Maynard Keynes would say if he were alive today!

A recent article in a financial paper advocated a return to the Gold Standard, and disagreed with John Maynard Keynes’ famous statement “Gold is a barbarous relic”.

The financial meltdown of 2008 and the current Middle East turmoil is confirming the “Gold Bugs” argument that prices may soon double to $3000/oz.

My students and I do not predict. Our timing indicators show a sell signal in silver. The same indicators can be used to predict the future gold price.

If gold prices fail to penetrate the recent highs @ $1550/oz, then a possible re-test of the 2008 psychological price level of $1000/oz is in the cards.

Friday 6/10/2011 price @ $1530/oz

Keep smiling,

Hany

Disclosure
There is a risk of loss in trading. Whether it is commodities, stocks and/or options, only risk capital should be used when trading in the markets. Pacific Trading Academy is not a brokerage firm. What we teach our students in the program are not trading recommendations. Our instruction is for educational purposes only.