Gold is trading at price not seen for 25 years; Silver is trading at price not seen for 22 years. When the historical perspective is taken in account the precious metals market is really exciting right now. Caution is always advised to those who hold margined positions, especially in silver which is clearly in a parabolic phase. However, silver does not face much technical resistance all the way
Finally gold succeed to follow the price of silver and surpass the 2006 Feb peak. Silver continue to climb faster then gold, the XAU / XAG ratio around 50.5.Time for Gulf economies to increase gold reservesBy Dr. Eckart WoertzCommentary byThursday, March 30, 2006"but the central banks of the region have not shown the same amount of foresight yet. Their gold reserves are very low, both on an
Gold broke up against the upper diagonal downtrend line, in addition it now trades above the { B }high. Gold in terms of USD, EURO & YEN is trading in a correlated fashion. Silver continue to go higher making new multi years day after day (long term silver charts).gold and silver stocks reviewsClick on the charts below to enlarge
Rising silver price as opposed to crashing silver price 2004-01 April, relatively low gold: silver ratio and potential typical bullish consolidation pattern are all supportive of higher gold price. Click on the charts below to enlarge:
Gold continue to show strength and to perform against all the three major currencies. The upper downtrend line is broken for Gold / Yen , Gold / USD & Gold / Euro currently struggling against the upper downtrend lines. There is some overhead resistance around recent highs, likewise good support at appropriate Fibonacci levels. Click on the charts below to enlarge:
Gold is currently trading higher then Friday high. Silver is also higher, making a multi year high again...As I posted a several time in the past: each and every self respected exchange will soon offer gold and silver trading / saving instruments. Here are some of the important news which directly effect gold and silver:Dubai commodity bourse to begin silver futures trading today Dubai: The DGCX
Gold emerged from what I assume to be [c of C] simultaneous bottom for Gold / USD, Gold / Euro & Gold / Yen Exchange rates(see the post from two days ago). A pure and powerful technical move which propelled gold higher, closing at a two weeks high just 15$ (less then 3%) lower then the multi years high.Click on the chart below to enlarge gold spot eight hours intraday chart annotated with the two
Not much change, silver continues to break into new highs, gold consolidating and enjoys just a slight uptrend. Click on the charts below to enlarge:
Yes! The Silver break out continue, Spot silver currently trading around 10.65 $ per 1 Oz.However, I will like to concentrate on silver bigger brother = Gold.Gold is looking a bit tired but it seems comfortable at ~550$, ~455€, ~64,000¥. The price of gold in terms of US Dollar, Euro and Yen is nicely correlated and the wave count is very similar.Click on the charts below to enlarge Gold / USD,
Yet another new multi years high for silver, gold is still lagging behind, trading around the 550$ level. Gold and silver mining stocks continue to disappoint investors. As I previously posted a several times: Investors preferences are changing and the metals could and should outperform most of the mining stocks. This great global gold & silver bull market is different from the 1970 – 1980 bull
Is the gold correction over?Here is my latest Elliot wave count for gold spot, the count cover the second major wave up (Elliot wave III) from its beginning to date, the count implies that gold is currently having some kind of a minor correction which could well be over. The third wave has a long way to go and gold is headed much higher. Short term gold traders should concentrate on the latest
I have annotated a four hours gold spot intraday chart with Fibonacci retracment lines and Elliot wave count. The short term outlook for gold is still foggy but the chart doesn’t look that bad and the silver action is very positive sign for gold, actually silver is currently climbing higher to new multi decades highs. click on the chart below to enlarge:
Or should I say Silver and Gold?Silver continue to lead on the upside making another multi decade high while gold struggle to hold support. The precious metals market is changing at least temporarily and In my opinion silver currently enjoy better physical demand then gold. In addition some market participants are expecting the silver ETF as well as long silver short gold trades. Both metals can
As the GGG&SBM advancing and gold and silver are loosing some of their "bad" investment stigma expect more and more precious metals investment vehicles as well as broader public participation. It will not be long before each and every exchange will offer gold traded funds. Today the Swiss Exchange is lunching a physical gold ETF under the symbol ZGLD. (source). Meanwhile on the silver front :
There are some pierce and possibly leveraged tactics to play the great global gold bull market.(GGGBM) : One can short the gold futures at the NYMEX and go long the physical metal. April 2007 Futures are trading at 571$ so anyone who is able to short the futures and take a couple of gold bullions "home" at a slight commission can make an arbitrage trade. I believe this kind of trade is very
Not much to say about the action in the precious metals market today. Gold and silver consolidate, silver is still in a strong uptrend while gold might defined a new (less steep) channel. I have to look deeper and see about the Elliot wave counts for both silver and gold. This way or that way, the technicals and fundamentals are still implying for much higher gold and silver prices. Occasional
Never buy gold because of terror / pandemics … Fears, if you are subscribed to doom theories then the US dollar will serve you better. I try to keep my political and religious opinions out of this bog as much as I can for the reason that gold is the money of ALL common people. However, I must say again that it is silly to think that a small minority, fanatic group – so called terrorist or self
Genesis 13:2 (New International Version)New International Version (NIV)"Abram had become very wealthy in livestock and in silver and gold."The last couple of trading days gold and silver lost some synchronization, while both sharply declined yesterday silver quickly based around support but gold drifted lower.In my opinion a good reason for this could be the real vs. virtual metals issue. As I
Virtual silver fund, bulls get a bit disappointed...By Kevin MorrisonPublished: March 6 2006 17:44 | Last updated: March 6 2006 17:44A silver price tracker fund, also known as an exchange traded fund, is expected to be launched on the London Stock Exchange within the next month by ETF Securities, which has already launched an oil-backed ETF on the LSE. The planned new investment product is
It is my opinion that a fair price (or better said an exchange rate) for gold is the gold spot price which is constantly changing. It might seem simplistic but I have come to this conclusion after deep and prolonged thinking. The spot price for gold is a reflection of the aggregate forces which are active or inactive in the market, this is the price where the buyers and sellers meet and trading
It was a good week for gold and silver. Silver made a new multi decade high while gold lagged a bit and it's still trading a zit below the January high. Silver had a spectacular run yesterday and caution is advised for those holding a margined silver position, Silver can run much further but it can also pullback and consolidate around support. I would like to see gold confirming the silver new
What a $ilver day! Strikes that shut most Mexican mines and a bullish inverted head and shoulders pattern fueled an impressive rally of 0.50$ , that’s the first time in 22 years that silver is trading above 10$ per oz . I see this event as a major bullish sign for both silver and gold, silver is finely trading at double digit figure. Gold had a good day but a bit boring compared to the silver
Keep your eyes on silver, there is an inverted head and shoulders pattern on the intraday spot silver chart with an initial target of well above 10$. As I wrote before the days of single digit silver will soon be over. Click on the chart below to enlarge:
I see a possible head and shoulders pattern on the intraday gold euro spot chart.The price target should be ~493 Euro per one gold OZ.Click on the chart below to enlarge:China Leads From The Front By Doubling Its Gold Reserves This Year Interesting to read that the National Development and Reform Commission has stated that China intends to more than double its gold reserves to 1,270 tonnes this
Subscribe to:
Posts (Atom)