$Gold Monthly

January volume was very high for gold, meaning that $U.S. gold prices could break out, much like they have in $CAD. The $CAD gold price advance came on the heels of the decline in the loonie, as well as a decline in interest rates.

There is no possibility of a rise in interest rates, unless the sentiment in the secondary market for treasury bills reverses spectacularly. It's all in the futures markets for gold prices and bonds. Gold miners may actually have seen their day, which will be indicated by the advance of gold/silver.(unless they have prepared for this eventuality)

The Wave One Extension elliot wave paradigm has so far not been 'blown', despite drawn out price deliberation.

http://scharts.co/15Kx8TC

- F6