It's beginning to look like Gold is breaking out on the daily chart but we must remain cautious, this could be a fake out. Then again, why would it be a fake out? The world reserve banks, ours included, have been dumping so much liquidity into the system to help soothe the sub-prime mess and they'll have to continue this through out 2008 as well!
Gold buyers aren't dumb, they're probably thinking that things will get worse and that possibly, just possibly, the US Federal Reserve is losing its grip on this. My connections to Wall Street are all saying the same thing, we have Financial Armageddon.
So it looks like my call about Gold breaking out might just come true, fingers crossed of course!
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