Tuesday, May 23, 2006

Gold & Silver Market Update , Charts

Gold and Silver, metals and most commodities had relatively strong upward movement today. The Gold Silver ratio (XAU / XAG) = ~ 51.54, Dow / Gold = ~ 16.67, Gold / Crude Oil (Light Sweet Crude Oil Future July 2006) = ~9.35.

Technically it is still unclear if the price of gold is headed for lower low ( [e] lower then [c] ) or else the bottom is in and higher highs will follow. For basic yet excellent Elliott wave tutorial see EWI – might need registration. What else ? - See this Interesting Gold Market report.

Click on the charts below to enlarge:

Spot Silver chart

Spot Gold chart

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