Gold - Caught
Between the Moon
and New York
City
In this issue:
Caught
Between the Moon
and New York
City
Some of you may
remember the hit
song many years
ago by
Christopher
Cross. This was
"Arthur's
Theme (Best That
We Can Do)"
with co-writer,
Burt Bacharach.
As I recall the
story Chris was
flying into New
York and the
plane was held
up for a long
time in a
circling pattern
over New York.
Looking out the
window he could
see the lights
of New York and
as well a full
moon. Thus the
captive line,
You Could Get
Caught Between
the Moon and New
York City.
I feel gold is
very much in a
similar
situation with
the price being
caught between
the previous
high of around
$1422 and the
most recent low
of $1310. While
the geopolitical
events have
driven the price
back up close to
the highs, gold
can not quite
make it there,
at least as we
write this over
the weekend.
Silver on the
other hand
blasted to new
highs on Monday
Feb 21st to
34.34 and has
remained under
that price, so
far. Silver is
outperforming
gold for now but
we still see the
possibility of a
significant
retracement in
both gold and
silver before we
once again blast
off to new
highs.
A couple of
charts will
serve to paint
the picture for
you.
The first chart
of gold over the
last 6 months
and then the
XAU.
We find it
interesting that
gold has not
made a new high
with all of the
geo-political
events taking
place and you
can see from the
above chart of
the XAU, Gold
and Silver
Index, that the
shares did not
even come close
to new highs.
It just looks
like we need
more time and
more downside
action to set up
the next great
buying
opportunity.
The “caution
flag” is still
waving but
from an
adventurous
perspective
amidst political
climates and
global demands.
Pay attention,
be vigilant, we
will continue to
keep our pulse
on the situation
and invest
responsibly,
professionally,
and
adventurously.
Let’s give these
markets more
time before
committing
significant new
capital.
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Dudley Pierce Baker –
Owner/Editor –
Guadalajara/Ajijic,
Mexico
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Webmaster and
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Assistant –
Phoenix, USA
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Paso, USA
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