[Atlas Sneezed]

Here's a good graph showing how gold might be getting a little ahead of itself compared to the 200-day moving average (or is entering a new phase).

My opinion is that it's OK to continue to accumulate, or to start to do so, but don't go all in at these prices. Silver is a bit safer, and platinum is much more attractive right now.

[Atlas Sneezed]

My observations from the above chart are that when the price exceeded the 200dma by this much in 2006, it was then flat for a year before continuing a long rise. In 2008, it was followed by a “V” in price for more than a year, before continuing its rise.

In both instances, those who looked at the “overpriced” signal and kept on steadily buying did very nicely for themselves.