Friday, March 03, 2006

Gold and silver 4 hours charts

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 high next week
So, to sum it up, short term, Silver is more risky then usual (for short term trading) as long as gold has not confirmed and made a new high.

Click on the charts below to enlarge :

SA gold production lowest since 1923
By: Gareth Tredway
JOHANNESBURG ( -- South Africa’s gold production in 2005, was its lowest since 1923, at 296.3 tons, according to a statement from South Africa’s Chamber of Mines released on Friday.
In 2004, 342 tons were produced. source

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