>> Gold chart <<
Yes, looking good. It took 12 years for the full 'Cup + Handle' to develop, but the big breakout finally came this year. According to traditional 'chart rules', after a C+H breakout, it should rise an amount equal to the depth of the 'Cup', which was $1000 (1000 --> 2000). So the upside to expect is the 3000 level, based on chart rules anyway.
The new BRICS currency will reportedly have a partial gold backing, and central banks around the world increasingly see gold as a desirable reserve asset. So the US dollar system will be under increasing pressure as time goes on.
Meanwhile the ominous US 'Debt Bomb' continues to grow exponentially. Currently $35 trillion and rising fast. A tipping point in global confidence in the US dollar will arrive eventually, possibly $50 trillion (?) which would be in ~ 5 years. Hopefully that timeline can be extended, but either way, it looks like prudent investors will need to gradually shift more into hard assets like real estate, land, gold, etc. As a general strategy I'm figuring on fewer bonds, and more hard assets, over the next 3-5 years.
---