The Phaserl


Watch Gold Sentiment For A Confirmation Of Its New Bull Market

from Gold Silver Worlds:

In the last gold sentiment update some three weeks ago (read Gold and Silver Sentiment Improving Significantly), we noted that gold just crossed its 200 day moving average for the first time in a year. That happened on an improving sentiment score.

According to Sentimentrader, who analyzes sentiment in almost all markets, it was important to watch gold sentiment cross 70%. “Above-average and rising sentiment is good, as long as it doesn’t get excessive, which would occur on a move closer to 80%. Even in a bull market, that would suggest that at least some nearer-term caution would be warranted.”

Where do we stand today? The latest figures, released this weekend, show that gold’s sentiment is 75% and silver 50%. That’s almost identical as 3 weeks ago, although the price stands significantly higher. It is mainly platinum and palladium that went higher significantly.

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