Gold is trading at price not seen for 25 years; Silver is trading at price not seen for 22 years. When the historical perspective is taken in account the precious metals market is really exciting right now. Caution is always advised to those who hold margined positions, especially in silver which is clearly in a parabolic phase. However, silver does not face much technical resistance all the way to 15$. Obviously the higher risk is always on the short side for both gold and silver. I have annotated the gold chart with a new trending channel, silver is parabolic and I can't draw a short term channel.
There is no need to update the Gold / € & Gold / ¥ since the short term chart is very similar to Gold/$. Gold is trading against the major currencies with great strength like a currency of first choice, considering the fundamentals and the historical perspective this is not surprising at all.
Long term gold and silver charts
GG (Goldcorp Inc.) , ROYAL GOLD INC (RGLD) , Pan American Silver Corp. (PAAS),SILVER WHEATON CORP (SLW) reviews.