...controversy and animosity seem to be steadily increasing, quite possibly to the benefit of our precious metals as gold is now resting comfortably above $1,300—the highest level in more than two years as of mid-February.

While gold’s chart has recently confirmed its short-term negative trend, the intermediate trend remains neutral while gold’s long-term chart is beginning to show some positive indications.

Putting it all together, we have indications that the petroleum price increases could continue and we believe that if that is the case, the impact on precious metals would be positive.