$1500.00 is a key level to take out, if that was an April/May high, (say April high) it could deliver a June low around the $1000.00 mark- very-ish, and off the cuff, I haven't looked at the figures, you get the gist. The situation in the global market in which Jan Feb and probably March, has been supported by buyers driven by rampant inflation in China, Libya, oil prices in which traders are chasing $200.00 a barrel, aside from political unrest in a part of the world whose economies revolve around gold, doesn't fit with a $1000.00 low.
So; I'm going to use the Dow equivalent guide and assume that debasement of currencies worldwide is now driving the pm market, and while there might have been a significant low this spring, what we are now going to see is a low heavily influenced by inflated fiat, as per the Dow.
Of course I don't know this is the case, but it's the only conclusion I can reach in my own mind, which sits logically with the rest.
