Gold and Silver had a nice rally today, with gold stopping around the 1190 area and silver making it to the 16 handle midpoint.

Look at the gold chart and you will see the only thing that really counts. Gold must break the downtrend, and take out the potential bear flag. Silver will follow, or it could possibly take the lead, but it cannot do well without gold one way or the other.

The G20 is this weekend. Let’s see if they announce anything.

I have included the economic calendar for next week.

Have a pleasant weekend.

“When the morning skies grow red,
and over us their radiance shed
Thou, O Lord, appeareth in their light
when the alps glow bright with splendor,
pray to God, to Him surrender
for you feel and understand
that He dwelleth in this land.

In the sunset Thou art night
and beyond the starry sky
Thou, O loving father, ever near,
when to Heaven we are departing
joy and bliss Thou’lt be imparting
for we feel and understand
that Thou dwellest in this land.

When dark clouds enshroud the hills
and gray mist the valley fills
yet Thou art not hidden from thy sons
pierce the gloom in which we cower
with Thy sunshine’s cleansing power
then we’ll feel and understand
that God dwelleth in this land.”


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