Technical Breakout of Scrap Gold Prices

The last time we looked at this chart we saw how  scrap gold prices bounced twice on the bottom of the wedge. The scrap gold prices has  since broke out of the wedge. Typically the price should continue down quite dramatically. If however it hovers around its current price the we may need to redraw the wedge taking in the lower price. Today however the  scrap gold price dropped below the all important 1174 mark where there was previous strong support.

In Gold We Trust is a Scrap Gold Calculator that offers up to the minute scrap gold prices and values on all gold coins and junk silver coins