Thursday, May 25, 2006

Gold & Silver News, Spot Silver Chart - XAG

Indian Bank to sell gold coins to boost profit
006-05-25 17:15
By Ruchira Singh
MUMBAI (Reuters) - Government-owned Indian Bank is hoping to set the slot machine ringing with the gold coin. In an attempt to boost business, the nearly 100-year old bank is stepping up retail sales of its recently launched gold coins, targeting a net income of 100 million rupees by the end of the fiscal year- source

World demand for silver soars
By Eileen Alt Powell
NEW YORK — Demand for silver rose in 2005 to the highest level in five years as strength in jewelry and industrial products offset softness in photography and coins, the Silver Institute said Wednesday. The Washington, D.C.-based industry group also said its annual survey indicated that investor demand for silver has been increasing, just as it has been for gold. -source

Russia gold and currency reserves reach about 237 bln dlrs
5.05.2006, 10.05
MOSCOW, May 25 (Itar-Tass) - Russia’s gold and foreign currency reserves increased by 600 millon dollars (or by 0.25 percent) to reach 236.7 billion dollars in the period from May 12 to 19, PRIME-TASS reported on Thursday with reference to the Central Bank of Russia.

The reached size of gold and currency reserves is another record for the whole period of regular publications of this information by the Central Bank of Russia.

As compared to January 1, when the volume of Russia’s gold and foreign currency reserves was equal to 182.2 billion dollars, this figure has increased by about 29.9 percent. - source

Spot Silver chart annotated with Fibonacci levels, trend lines
and Elliott Wave count. Click on the chart below to enlarge:

XAG spot Silver chart

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