Peter Grant: Symmetrical triangle hints at breakout for gold

Section:

2p ET Thursday, August 20, 2009

Dear Friend of GATA and Gold:

Peter A. Grant, senior metals analyst for Centennial Precious Metals in Denver, has produced some fascinating technical analysis of the gold price. He writes that since February the gold price chart has developed a "symmetrical triangle," a pattern sometimes called a "coil," like "a spring being compressed as it coils in an increasingly narrow range." Such patterns in gold in recent years have preceded upward breakouts, Grant writes. He has some great charts and you can find his commentary, "Symmetrical Triangle Continues to Develop in Gold," at Centennial's Internet site, USAGold.com, here:

http://www.usagold.com/cpmforum/?p=172880

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

* * *

Join GATA here:

The Silver Summit 2009
Thursday-Friday, September 24-25, 2009
Davenport Hotel, Spokane, Washington
http://thesilversummit.com

Toronto Resource Investment Conference
Saturday-Sunday, September 26-27, 2009
Intercontinental Hotel, Toronto, Ontario, Canada
http://www.cambridgeconferences.com/ch_tor2009.html

New Orleans Investment Conference
Thursday-Sunday, October 8-11, 2009
Hilton New Orleans Riverside Hotel, New Orleans, Louisiana
http://www.neworleansconference.com/

* * *

Support GATA by purchasing a colorful GATA T-shirt:

http://gata.org/tshirts

* * *

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16