Despite current weakness in gold around the $1650 area we expect a turnaround in gold with a new leg up to $1800 area and eventual breakout at $2000 in 2013. Despite noises heard in the Fed minutes of a purported exit from quantitative easing, Central Banks around the world have flooded the markets with fiat currency.
Around the world gold has outstripped every competitive currency for the past ten years, yet the mainstream fail to understand the importance of owning gold and the gold miners.
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Fiscal Cliff Deal May Be Sparking Risk On Rally Into The Undervalued Miners
We may be in the beginning of a hyper-inflationary rally. There is plenty of cash on the sidelines who may be seeking alternatives in the form of the undervalued commodities and miners especially as the dollar is forming a bearish head and shoulders formation and the Canadian Venture is breaking out above the 50 day moving average.
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Why This European Uranium Miner Is Turning Higher
The long term downtrend and 200 day moving average has been broken to the upside after basing for more than 22 months. A possible long term trend change could be occurring. The technical chart reflects the fundamental changes in the company. Developing a relationship with both AREVA, the largest nuclear company and the Slovakian Government has been critical in the development of this world class, low cost uranium project. We look forward to developments in 2013.
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