Today Gold and Silver moved higher while the gold and silver stock indices declined along the general US stock market. In the past it was a sign of a coming weakness for the metals but that should be changing as investors might be changing their preferences for obvious reasons.See also: Special risks when investing in a mining company.Click on the charts below to enlarge:
Gold and silver lost some ground today, let's see what happen tomorrow.Meanwhile I'm trying to think about what will be a fair price for gold under current conditions, one of the main issues regarding the price of gold is the fact that the gold market is both a physical and paper market and this fact is a very important one.click on the chart below to enlarge
Gold rallied to new highs for the week, moved above the 62% Fibonacci blue line and stopped just below the 62% Fibonacci green line. There is still some upside resistance to fight on the way up but the pattern on the chart is orderly bullish and higher highs should be expected , it is now clear that gold had double bottomed around 535$.Silver first traded hesitantly then followed gold and gained
Gold pulled back today and is currently trading just above the 38 Fibonacci line, not a big deal if you ask me. The triangle formation is still constructing itself and technically the short term situation is somewhat unclear. This week gold traded in a relatively narrow range of about 10$ and it seems like the 550$ level perceived as acceptable between the buyers and sellers. I assume that the
Dear readers, I always try to express my thoughts, views and opinions in the shortest possible manner, this is my writing style and I have no intention to waste your reading time. As I see the situation the gold market continue to present a unique opportunity for high reward low risk investment , please review the archive of this site for information regarding the HUGE outstanding short positions
Dear readers, some of the Gold and Silver mining companies have reported their 2005 – Q4 results recently, I have made a few review posts about the major interesting stories. Amazingly the picture is very simple: as the price of gold goes higher the heavily hedged miners actually report declining profits. While Un hedged or little hedged companies report higher profits. See the reports here: I
As appears on the daily chart below gold short term trend is still up. The channel is still intact and the price of gold is close enough to the bottom of the channel, the top of the channel is currently above 600$ and raising. I cannot guaranty that the eight days or so correction is over but it appears that the bottom of the channel, the Fibonacci retracement lines, the 50 days moving average
This is what the Silver Users Association say about the subject :Silver MarketBetween 1966 and 1970, U.S. Treasury sales of silver were a major secondary source of supply. Because silver had been a U.S. monetary standard along with gold, the U.S. government held the world's largest source of secondary supply in an effort to meet a growing production/consumption deficit. In 1965, it appeared that
First China, now India.ASHISH GUPTATIMES NEWS NETWORK[ FRIDAY, FEBRUARY 17, 2006 12:22:33 AM]Gold mutual funds may soon be a reality in India. Securities and Exchange Board of India (SEBI) has cleared the way for introducing gold exchange traded funds (ETF) in the country. It has approved two models for launching the product – a mutual fund custodian bank integrated model and mutual fund
The price action of silver is very similar to gold. The fundamentals behind the bull markets in silver and gold have much in common but each metal is having its own advantages & disadvantages. One can make good arguments of why silver is a better buy then gold and visa versa. Nevertheless, I don’t want to get into this argument and would just like to suggest that both will perform remarkably well
It is yet to be seen if gold and silver already bottomed or is another wave of selling coming? , this week lows are the key answer. A climb above this week highs will almost certainly confirm the bottom while a slide below this week lows will indicate another wave of selling could be expected. Caution is advised for those holding margined positions, while those who have no position can start
Some nice recovery for the precious metals today, gold and silver are currently 12$ and 0.25$ above last bottoms, there is a good chance the bottoms are already in. According to my E wave count for gold this is a third wave within a bigger scale third wave up, third waves are known to be confusing and this is exactly what I see in the market – confusion and allot of it. Some "professional
England Wins Again: First In The Great Gold Selling Game Date: February 14, 2006By Our Man In OzIt’s not every day that the people of Australia are prepared to doff their Akubras and say: “well done England, you win again”. After recovering from the shock, and quickly checking the back pages of the Telegraph to see if a cricket or rugby test was played overnight, a tiny little warning bell
Gold and silver headed lower today below last week lows, gold is already about 35$ below it recent top currently trading around the 2005 high level. This pullback might have another leg down but I wouldn’t bet on it. I continue to see excellent risk reward opportunity in buying gold and silver , the higher risk is on the short side of this market and the appreciation potential is much higher then
Paul Mylchreest (investment analyst, Credit Agricole Cheuvreux International) published an impressive gold market report covering some of the complex fundamentals driving this great gold bull market. It appears that the disagreement (regarding gold role in the global monetary system) is expending itself from the central banks arena into commercial banks arena as well.If the findings about central
Not so good action for the precious metals complex today, Gold and Silver are trapped in a relatively tight trading range between this week highs and lows. However, the gold oil ratio made a one year new high on a closing base. I see a pattern of inverted head and shoulders on the gold / oil ratio chart. I'm not an oil bear so if an average crude oil price of 60$ is assumed the initial target for
Gold and silver Recovery is almost as sharp as the correction. The violent down move was clearly non sustainable and counter move quickly followed. If you trade this market using margin use it very wisely if any. As the bull market continue it is very logical to expect similar moves and even more volatile market. Gold outperformed both the XAU index and the HUI index today, in my opinion it is
The country's gold production in 2005 declined by 12.8 percent when compared with 2004, Statistics South Africa said on Thursday. In the three months to December 2005 gold output fell by 8.8 percent when compared with the three months to December 2004. read more
I have annotated both gold and silver 6 month daily charts with channels and Fibonacci retracement levels. Click on the charts below to enlarge:
There are different kinds of groups in the gold market and the price of gold reflected in the gold charts is simply the history and present relationship resolving between them. Do not try to understand every move up or down in the price of gold this is simply impossible thing to do.As we all know the gold market is both physical and paper market, some players are just prudent investors who look
It was a violent correction for the precious metals and their mining shares. Gold broke down of a head and shoulders pattern and the downtrend was consistent all day long, Silver support is around the 9.30 $ level. Gold is already 28$ lower from its most recent top and the correction is already somewhat overextended in my opinion. Nothing goes straight up and violent & volatile market should be
Zhang Fengming2006-02-07 Beijing Time THE China Gold Association is considering forming the country's first gold fund with partners. "Some association members have discussed the program to start a gold fund to tap China's gold market," Hou Huimin, vice chairman of the Beijing-based association, said via telephone yesterday. "It's still only a proposal at this stage and we have not yet contacted
Dear readers,It is my opinion that gold might be very close to a point of a sharp, volatile and violent move which will result in a price of above 600$. The Investment world finally start to recognize the extremely bullish fundamentals, the relatively huge short positions and most of all the opratunity for unusual high reward low risk "investment". This move will come regardless of any political
Nothing goes strait up , like gold, silver is building a base and consolidate before making a move that will take it above 10$, I don’t think that any pullback in the price of gold or silver is going to be deep nor sustained. I have annotated the 8 hours silver chart with wave count, Fibonacci levels and trend lines. Click on the chart below to enlarge:
Gold had some kind of pullback today, Elliot waves count suggest this is not going to be a deep correction and higher highs are just around the corner but the count is not confirmed so caution is warranted.Click on the chart below to enlarge.
Yet another good day for the precious metals sector, gold , silver, platinum all made new highs while palladium had the best performance the last couple of months gaining around 50%. This is the beginning of the second wave up for the precious metals (Elliot wave 3) , the industrial metals along many other commodities are also acting very strong. Money managers and the financial industry are
Not Much change in the gold market today, silver pulled back some but not too much.CBOT Expands Precious Metals Complex and Launches 100 Ounce Gold Futures Options read more Expect more of the same for the foreseeable future. New exchanges for gold and commodities will open all over the world as the sector will be more and more interesting for Investors. Long way to go...Gold Indices have done
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