Warren Buffett warns U.S. debt, spending may turn America into "banana republic" - is it time for gold?

Well now "the secret" is out ... the secret that the U.S. debt is mountainous and the associated new spending piled on the old is an actual serious problem, that is! How nice that Warren Buffett woke up, smelled the coffee, and decided to say something about! I'm so tempted to revisit the full story about the emperor's new clothes - when group-think and fear (shame) caused everyone to say things were great. But a little boy pointed out the fabrication was exactly that - an expensive mirage! Readers can find plenty of good sources to address these economic/political ideas more, so I'll stick with what the charts are saying. The US dollar has made a higher low, then a higher high. Then swooned today. Virtually no room to go lower without triggering a projection lower (73.54 anyone?!), while gold stood up again from moving average support. So now there's news to go along with drama over whether or not gold will fly higher and the dollar will drop lower.

Technically these charts can go either way, so investors and traders should keep an eye on whether the support/resistance levels tests today will continue to hold.