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Gold Prices: Final Capitulation Commences




The above chart shows that gold fell through the support level of $1080.00/oz in today's trading session. It has been a long time coming but gold is now in the 'final capitulation' stage. The bottoming process may take a little while to form and we wont know it was the bottom until we go through it and get to the other side with the formation of a strong base.


The recent turmoil in the world has done nothing to boost gold prices as the fear trade is being played out among the currencies. The usd has been a beneficiary as it now stands at around 99.71 on The US Dollar Index as we write. The lions share of our funds was allocated to the USD and we are happy to have the cash in order to implement an aggressive acquisition programme as and when the opportunity presents itself.


Now is the time to be finalizing your list of quality gold and silver stocks in readiness for a rebound in precious metals prices. This is something that we have been working on for some time, its not cast in concrete just yet as we all know a week can be a long time in the life of a gold producer, so take great care with your selection.


Go gently.


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