As Jordan explained to us last month, we're still not seeing higher highs and higher lows in the gold price. His opinion was again confirmed. Every time gold approaches $1350 per ounce, there's a dramatic pullback. Until gold breaks this key resistance point, with conviction, not much is going to happen. Unfortunately, until further notice, precious metals investors are in a waiting game.
Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association.. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection for the sophisticated investor, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets.