Tuesday, March 14, 2006

Silver , China and Swiss.

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 :
Shanghai Gold Exchange is preparing to start silver trade, which will set the benchmark for Chinese prices, industry sources said on Friday. The new product could increase China's investment demand for silver and reduce its exports, they said. China exports about two-thirds of its silver production.



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I have annotated a daily chart of spot silver with Elliot wave count and trend lines, click on the chart below to enlarge:

silver spot chart & elliot wave count

2 comments:

Karnac215 said...

Nice charts. Keep up the excellent work. Kind regards! Christrader

Karnac215 said...

nice charts. keep up the excellent work. Kind regards, Christrader

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