Those who believe that gold and silver will rise only with further dollar devaluation are missing the global aspect of the current bull market in gold and silver.
This is a race to the fiat bottom among ALL major currencies.
We decided to take the time to post 5 year charts for gold and silver in the dollar, euro, pound sterling, yen, Aussie dollar, and Canadian dollar to demonstrate this fact.
We'll start with silver.
The most impressive aspect of this 5 year chart of silver priced in US dollars is the sharp increase in the slope of the uptrend line beginning in August of 2010. A clear gradual uptrend line is visible beginning roughly December of 2008, and continuing roughly through Aug-Sept of 2010.
Notice how silver consolidated and hugged this uptrend line for 3-4 months prior to August of 2010, when it underwent a trend-line acceleration.
Around September 2010, silver clearly undergoes a major acceleration, as its up-trend line moves to about 45 degrees.
Notice how silver's current consolidation is resting almost exactly on this uptrend line.
Could silver be preparing to undergo another major trend-line acceleration?
Notice the large cup formation currently developing in euro silver. Now we just need the handle.
A major cup formation after a parabolic curve is a very bullish chart pattern.
Almost the same pattern in pound sterling.
Even a more massive cup in Canadian dollars.
And Aussie dollars.
Yen silver chart shows the same trend-ling acceleration as the US dollar silver chart.
As Jim Sinclair predicted, gold has clearly undergone a trend-line acceleration in all major currencies.