Gold chart staging areas

http://www.usagold.com/cpmforum/2013/02/27/gold-chart-staging-areas/

Corrections in gold and silver

This is a good primer on corrections within a bull market in gold and silver.

http://www.dailywealth.com/archive/2010/feb/2010_feb_11.asp

If the Chinese economy falters, then it is very possible that commodities will fall as well, since China has been a huge market for them.

I think gold will do better than silver under this scenario, because gold is viewed as a monetary commodity by all the major players, whereas silver is viewed as an industrial metal as well as a monetary one. In a contracting economy, silver may fall. That doesn't mean I'm going to rush to sell my silver, it means that I am prepared to see silver fall.

- Chris Weber

Brian Hunt auggests the smart money is buying the dips.

Disclosure: long gold and silver mining shares.

Gold pauses

As suspected, Gold corrected yesterday, as the mining shares did not move up friday, despite spot prices rising to resistance at $927. Corrections are healthy, so we'll see if gold prices hold their support levels. With further consolidation, the technicals favor another move up, with resistance at the $975 level.

More importantly, the fundamentals are still in price for a bullish case for gold. We'll see if gold trades in this range before testing last year's high.