Long Position on Silver and Gold?

[rondog]

With the entire developed world engaging in some form of quantitative easing and places like Russia and China snatching up precious metals, it wouldn't be a bad investment long term. However, didn't gold just fall through a well established support level?

Depends on how you look at it. Step back and look at the bigger picture of a 3 year chart, and gold is just approaching the support level around $1525. And considering the current puddle of shit the world is in, if I had the money to pursue a gold position, I'd be a-thinkin' about it.

When I first started sniffing around the gold and silver markets about 12 years ago, silver was around $4.25/ounce and gold was around $250. I remember people on the PM forums praying for the day that gold would go over $500/oz.