If enough cash based buying enters the physical silver market then regardless of the silver market fundamentals (which are supportive) the price will quickly rally. The move should be similar to the second half 2005<> first half 2006 in which silver climbed about 130% in 8 month. 12.30$ today is like 6.70$ in 2005 so the target is about 27.80$ which is between the short and long 261.8 Fibonacci
It might be the case that criminal acts, corruption and the highest level of abusive acts against people's freedoms are taking place. Authorities all over the world have pushed themselves into the darkest corners. Top academics and high rank officials are refusing to admit their own mistakes which are based on false economic theories. One should be careful and consider all options.
It appears that after yesterday slump some technical repair is currently taking place. This is not the time to sell gold and silver as February 26 was not the time to buy. Yesterday action is nothing new for anyone watching the precious metals, gold has seen moves of ~ 40$ in 24 hours more then once , sharp moves like that are typical at bottoms or tops though it is not always the case. For
The annual mine production of gold is around 2500 metric ton. The notional amount of gold over the counter (OTC) derivatives is 463 Billion USD (BIS Dec 2006). This numbers alone support much higher gold price, just do the simple math.This is only small part of the story as Total OTC derivatives (most are interest rate contracts and credit default swaps) amount at 415 Trillion USD. Gold
Gold and particularly silver are down sharply today. Gold and silver are about at the same point as in the beginning of the year and April 2006. Volume at futures exchanges was large. It was like traders got scared that their gold would catch rust. I estimate that the high volume was due to fundamentals, value and de hedging.Dow Jones /Gold ratio making new highs, inline with recent out
Gold trading is directionless, sentiment is negative as I observe at mainstream media publications.Gold markets structural developments:Small-Lot Gold Futures 100 gram gold contracts to be issued in China and Japan :"BEIJING, June 26 -- The Shanghai Gold Exchange will launch individual gold bullion trading nationwide in July by teaming up with Industrial Bank."-source"TOCOM hopes to inaugurate
If you look at gold compared to other major nations currencies like Yuan, Rupee, Pound, Ruble, Real, Etc. you can see that some of them have been more strong then others and gold retraced a large amount of time and price . It has long been my opinion that gold will appreciate vs. most if not all national currencies. In terms of some national currencies gold is currently trading at serious
Today gold was clearly trading like a currency and no wonder that silver lagged. (The monetary component within silver certainly exist but for lesser extant compared to gold) Before the New York open gold was higher both in terms of Euro and USD then moved higher in USD and Lower in Euro, later the opposite: up in Euro down in USD, a sell off in both majors then a strong impulsive rally into the
Dear readers,I got some nasty massages and emails lately, namely personal attacks. I just want to remind that I'm not a registered investment advisor, broker or dealer. All content on this site is either quoted from other online sources (normally linked to the source) or it is my own analysis and thoughts. Either way I do not recommend that anyone will act upon my analysis.If you want to trade
The Silver wave count seems to be a bit head of gold as observed by comparing recent cycles lows. Overall gold and silver haven't done much lately but continue to be attractive at current prices with significant upside potential. XAGUSD Daily Chart
The sell if they will isn't as meaningful as the reporter wants you to believe. Consider that the outstanding notional amount of gold over the counter derivatives is 463 billion USD , reported by the BIS December 2006. Switzerland's central bank is to sell a further 250 tonnes of gold, dashing hopes for a revival in depressed bullion prices after months of heavy selling by Spain and Belgium.The
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