This week we cover the price movements of gold, silver, platinum, palladium, the US Dollar Index, the DOW and more on Golden Rule Radio. We have gold at a 10 month high. We look ahead at the possible direction and levels the gold price in 2019 could hit. We’ll then look at the silver price in 2019 alongside platinum and palladium prices.
Gold At A 10-Month High: Silver, Platinum, Palladium Update – Golden Rule Radio
We have gold at a 10 month high pushing above 1340 boy I like this action and goal and that fun we got as high as 1347 and Miles is going to tell us every reason why. Yeah Miles had a brilliant shot chart a couple of weeks ago on a three drives pattern that he said that we were going to see this extension into this level testing the previous highs. And so I like that call Miles a couple of weeks ago you had this. We do have divergent still going on between price and RSI. So where are we today Miles.
Yeah Robert the RSI or the Relative Strength Index kind of that average of buys versus sells over a period of time definitely tells you which trends you see the market going regardless of where the prices going. And you can see some interesting indicators in that correlation between just dollar price and how some of these indicators like RSI respond. So speaking of that price we did see well it looks now like a 3 drives pattern with that divergence RSI we’re drawing on the chart here. Now coming right up into the lower end of kind of our top historic range. So you can kind of see over here on the left side of the chart. We’ve just come into sort of the bottom of the previous trading range between about 13 45 and 13 65. So we had a discussion last week and kind of came to the conclusion if gold can stay above 1500 there’s really nothing between here and getting into the old high range loan. Behold one week later here we are. So over the next week we should see one of two things happen Either we’ll go ahead and have that immediate pull back that we’ve been hoping for or we’re going to stay in this range and it could end up building a new base here.
Yeah as we said last week gold is going higher. We saw the weakness we wanted there could still be a pullback here where we see lower numbers. Before we had higher but again we’ll state it. This is your opportunity. As we said last year words are ringing in my ears there was a 1905 13 10. Now it’s 13 40. This is your opportunity buy on weakness.
You did say that last week and it’s funny because those words have been ringing in my ears and it’s OK that you’ve missed. Thirty five dollars of this move. It’s still a great opportunity. But again like he’s saying any dip. This is an opportunity.