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Aden Forecast “The gold price has broken above all resistance. . .”

ReportGold
Date04/13/2010
Loaded Date04/14/2010
TitleMany New Highs in Resources for the Year
Quote“This month’s jump up in precious metals, resources and oil reinforces that the lows in February were likely the lows for the downward correction.

For now, the second quarter is off to a good start. The fact that gold’s decline was mild (down 13½%) is saying that the underlying bull market is strong and solid. You should now have your positions bought and in place, waiting for the bull market to further unfold.

Platinum and palladium have been strong, reaching new highs and they seem to be leading gold, silver and the metals shares in another leg up in the bull market. In fact, the new highs in many commodities reinforces this.

Currently, gold looks ready to spring forward. Considering that just six months ago, the $1,000 level was a super break out point and today it’s a major support level illustrates how gold’s slow and steady rise has been gaining momentum. It really doesn’t matter right now if a double C peak is in the making or if the D decline is really over.

The gold price has broken above all resistance and the last remaining one is the November closing high at $1,218. Once $1,218 is surpassed, gold could jump up to the $1,300 level before this intermediate rise is over.”