Gold slips past 1,270 resistance.

Having gone to the edge of 1,270/oz (only to retreat each time), gold slipped past the mark and was trading at 1,283 for a while. Will it continue advancing? Depends. At this point, physical gold is in short supply and gold prices are kept artificially low.

Economic news is bad. China's growth is down to 5-6% from the lofty number of 9-10.0%. Emerging markets are a shambles and currencies have sold off. Wages are stagnant in the US and our Stock Market is valued at over 100% of the GDP (traditionally it is 50%). Good money can be made in the precious metals and miners.