Wednesday, April 17, 2013

Gold, Silver Hammered - Mike Shedlock - Townhall Finance ...

After drifting slowly lower for months, gold has been crushed in the past few days as the following charts show.

Gold Daily

click on any chart for sharper image

Gold 30 Minute

Silver is pretty much the same story as gold.

Silver Daily

Silver 30 Minute

This certainly is a steep correction, but does this mark the end of the gold and silver bull markets, and the everlasting triumph of paper currency backed by nothing?

Before you decide let's look at a historical chart courtesy of Sharlynx Gold.

Gold 1974-1979

click on any chart for sharper image

Source: http://townhall.com/columnists/mikeshedlock/2013/04/16/gold-silver-hammered-n1568764

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