Wednesday, May 24, 2006

Gold Market Commentary, Chart

Marginal [e] lower then [c] is obviously a given, important notice should be taken of this Fibonacci levels. As for buying, selling and holding recommendation: In general the fundamentals reasons to own gold and silver have not changed at all, they are just getting stronger. Intraday short term traders – good luck if you can challenge the volatility and catch the majority of the moves. Trading gold is not advised to anyone but the most professional with suitable experience and capital , the big majority will do better with holding at least most of their positions for the duration of this Great Global Gold Bull Market. After all not everyone wants to seat on knifes in this kind of market. Not so is the case for Gold Mining stocks - this you should monitor constantly and treat with much more care and attention – All Gold stocks might be subject to mining stocks special risks along the usual frauds. – Gold is a rare metallic mineral – with thousands years of monetary role. Most of the above apply to silver. One more thing – much of your strategy should be dependent on your age and the sources of your cash flows.

Back to the short term technical's – Silver some weakness not much change , gold – see chart below ( you can click to enlarge)

Spot Gold Chart

1 comment:

Sergio Cámara said...

I find probable we lose yesterday lowes, and go to next target 616-613 area.

Until we don´t see volume in a low or in an upper trend, i find probable, the lows to continue, perhaps until the 586 - 581 area. I don´t see gold to go further lower.

If there is an Up move, the levels to watch are: 651/663/675/695. Until we don´t pass 663 level I´ll be more bearish.

At the end, the market has the last word.

Bye from Spain



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