Wednesday, May 10, 2006

Gold Global Perspective update

It was another good day for the precious metals complex investors. The Gold Silver ratio (XAU / XAG) = ~48.99, Dow / Gold = ~16.47, Gold / Crude Oil = ~9.79.

Silver continue to consolidate just under the recent high, once the April high is taken the price of silver will face the 1983 high of around ~15$. The recent consolidation pattern will serve as good support in case of any pullback.

Spot Silver intraday chart

Gold, Silver, Platinum, Palladium, Copper, Aluminum, Crude Oil WTI, Natural Gas, Unleaded Gasoline & CRB Index charts. -link

Gold / Silver, Platinum, Palladium, Copper, Aluminum, Crude Oil WTI, XAU , HUI & CRB Index ratio charts. -link

Gold in terms of: Euro, Yen, Pound, Australian $, Canadian $, Rand, Frank, USDX. -link

Retail gold prices soar to hit 100-year high

Local retail gold prices have hit an all-time high of more than 12,900 baht per one-baht weight (15.16 grammes) of ornamental gold.

Prices are now at their highest point in more than 100 years, driven up by global gold prices, which this week rose to a 25-year high of more than $700 per ounce, according to the Gold Traders' Association.

According to Pichaya Phisuthikul, the association's secretary-general, local gold prices rose yesterday by 300 baht, with the price of ornamental gold standing at 12,900 baht per one-baht weight, from 12,600 baht on Tuesday, and gold bar at 12,500 baht, a rise from 12,200 baht. -source

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