Friday, February 10, 2006

Gold / Oil ratio

Not so good action for the precious metals complex today, Gold and Silver are trapped in a relatively tight trading range between this week highs and lows. However, the gold oil ratio made a one year new high on a closing base. I see a pattern of inverted head and shoulders on the gold / oil ratio chart. I'm not an oil bear so if an average crude oil price of 60$ is assumed the initial target for gold according to the pattern would be about 681$.

See my other web pages for charts and information regarding:


Gold and Silver stocks

Click on the chart below to enlarge:

Gold / Oil ratio

No comments:



Gold Global Perspective Feed

AddThis Social Bookmark Button AddThis Feed Button