Friday, June 15, 2007

Gold to XAU Ratio

Comments: XAU approaching resistance.



Comments: This chart bears watching. It's very close to a (bullish) breakdown in favor of Gold miners. It's hard to judge right now whether such breakdown would be for real because the general market was up big this past week, taking everything, including gold miners with it. But the RSI has shown a major breakdown (bullish for Gold). I've been reducing my positions into the strength this past week, but I'll be keeping an eye on this ratio.