Gold has gone hyperbolic! Signals
major surge ahead...
May 1, 2011
James M. Carrillo
The closing price of gold on Friday April 29, 2011 has violated the LONG
TERM 45 degree angle of ascent. This typically signals an imminent
hyperbolic move to the upside, target is unknown. Gold is short term
overbought currently but should be bought by those who don't own any and
all dips to the downside should be aggressively be bought by all.
The fundamentals of the U.S. Dollar, lack of fiscal
constraint by U.S. policymakers and Federal Reserve also support this move.
By May 16, 2011, we must either lift the debt ceiling in the
United States, which should cause our credit worthiness to be further
downgraded from AAA negative, or not pass it, most likely putting the U.S.
while putting into question the "Full Faith and Credit" of the
United States by its creditors, or default, which is unlikely.
I will be writing more on this catch 22 situation soon, as well as the
Fed's calmly stated monetary stance, which is clearly a financial panic
situation. No matter the outcome all are bullish for gold in my opinion,
very negative to U.S. Dollar holders and confirmed by the very clearly
shown aggressive technical breakout in gold prices.
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