A Market Timing Report based on the 3-07-2014 Close published Sunday March 9, 2014
Gold is holding on but is under the thumb of rising interest rates (10 Year Treasury chart below). If the trend continues, the US dollar will turn up and that will pressure gold and other metals. Only in the case of real panic do gold and the US dollar tend to move in direct correlation. I would only add on the next breakout to the upside.
Here’s the GLD chart:
Gold still holding on. Follow the next move.
Ten Year Treasury Note Chart (TNX):
Rates rising again. Higher low was put in this week. Now a breakout
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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.
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