GOLD & Silver 25 August 2012 Weekly Reports

GOLD Primary and Weekly cycles

Gold didn't come down into the Weekly lows, which were my support level, and price has broken out of the Weekly highs and is extending up into next week's highs, which align with the August highs @ 1677-1685

Gold can continue higher, but I favour price retesting this week's breakout @ $1634

Silver Primary and Weekly cycles

Silver could continue to swing back towards the Yearly 50% level @ $35.51, but without it reaching the Weekly lows first I'm reluctant to say that Silver will continue beyond this week's highs @ 31.29. (resistance)

My view is that Silver will retest this week's breakout:- $28.52