Gold Chart

While this is an oil blog, the another commodity that our contributors sometimes follow is Gold because Gold prices tend to be good indicator of monetary conditions.

With that in mind, I want to alert readers to the bullish technical chart of Gold right now. The chart below is taken from MontyHigh's excellent World of Wall Street blog

www.worldofwallstreet.us



Monetary conditions continue to be very favorable for gold (and oil). Right now, we prefer to be long gold due to high inventories and improvement in temperatures across North America.