Tuesday, December 27, 2005

Gold spot 120 minutes chart.

Gold is up 20$ since its last bottom one week ago. Gold is trying to break out of the 20$ range box formation and the Bollinger bands look to be expending. The top of the box is exactly at the 38 Fibonacci line. So if its basing around, this line should provide good short term support. In my opinion, it will not be long before the price of gold will make new high.
The paper monies markets are less and less relevant for gold which moves up against all of the paper monies , right along his small buddy silver.

gold spot price

See this joke by MOF Japan:

TOKYO (Reuters) - Japan's Ministry of Finance said on Monday it will auction off modern gold coins from its collection through the Internet next February.
Some 2,445 coins will be sold on a Yahoo Japan Corp. site from February 3-19, the ministry said.
The MOF holds some 32,683 modern gold coins, which it plans to sell off by March 2008. A floor auction in October sold 1,037 coins, reaping some 561.82 million yen ($4.83 million)... Read More

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