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Peter Grant: Symmetrical triangle hints at breakout for gold

Section: Daily Dispatches

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,, here:

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

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