A great strat for 2013 Sabina had a great start for 2013 so far. Take a look at the daily chart below and you can see for yourself that the best has yet to come. We broke through the 50 and 200 days average as if they were not even there.
The US$ tanked against the euro, which is now expected to move towards 1.35. Where a strong euro normally is bullish for the metals, gold and silver could not really profit from the strength of the european currency. Both metals, gold and silver, as well as the gold miner index are still in a bearish mode. The gold weekly chart is showing a pattern of lower highs and lower lows, till the 1,695 is taken out. The next step will then be 1,716. On the daily charts things look a little better, although both metals are still below their 18 days average. Also for both, you can see the bollinger bands narrowing in, which is an indication that a big move, whichever direction, is about to happen soon.