In the gold market, the bias is still up on a weekly basis with an all-time high in the market: $2454.20. The pattern is still one of higher and lows higher highs – bullish.
India’s physical demand for gold and silver will start in a big way only from the middle of June. Cash is still used in a big way to buy gold/silver in any form.
Gold’s record-setting rally may have captured the headlines, but silver is running harder and faster as the less glamorous metal benefits from financial and industrial demand.
Gold continues in fresh territory...over $2,420 new highs are probable. Targets for gold range from $2,500 to as high as $2,800. Support is now seen at $2,300, $2,200, and $2,100.
