click on the chart below to enlarge.
Tuesday, January 03, 2006
Gold daily 6 month chart
Very nice move for the Forex of nature. Not much news , simply bullish action.
click on the chart below to enlarge.
click on the chart below to enlarge.
Gold 60 minutes chart
Many Traders and Investors are waiting on the sidelines to get into gold; some of them are waiting for a better price or got stuck with the wrong Elliot wave count. This is exactly the reason why we aren’t likely to see any correction soon. The climb from the 489 $ bottom is very strong and a nice triangle pattern was built. Gold might register a new high very soon.
Click on the chart below to enlarge.
Click on the chart below to enlarge.
Sunday, January 01, 2006
Silver 2005
Not much to say, it was an excellent year for silver. As the price of gold is moving higher silver will follow and might lead. Small physical buyers who can’t afford gold will often go and buy silver.
Click on the chart below to enlarge a 1 year silver price chart
Click on the chart below to enlarge a 1 year silver price chart
Friday, December 30, 2005
Gold 2005 Summery
Good year for Gold, Silver, Metals and most of the Commodity sector. Nice gains for the companies who dig for all the stuff we need. The global population is growing and developing countries need more basic materials to produce a higher standard of living.
Don’t forget the commodities are just climbing out of a 20 years devastating bear market hole.
I Don’t have any prediction for the paper Forex market – which is very unpredictable and highly managed. I don’t see a better paper currency then the US dollar. The USA is still the strongest country and the very important reason - the Fed is still the biggest gold holder(?).
Gold and silver - the monetary commodities did not gain as much as other commodities this year, but that could change next year - for the fact they have the monetary ingredient.
Over all I expect gold and silver to really outperform other sectors in 2006, we could easily see a 50% gain in the price of gold and the price of silver the next 12 months.
Don’t forget the commodities are just climbing out of a 20 years devastating bear market hole.
I Don’t have any prediction for the paper Forex market – which is very unpredictable and highly managed. I don’t see a better paper currency then the US dollar. The USA is still the strongest country and the very important reason - the Fed is still the biggest gold holder(?).
Gold and silver - the monetary commodities did not gain as much as other commodities this year, but that could change next year - for the fact they have the monetary ingredient.
Over all I expect gold and silver to really outperform other sectors in 2006, we could easily see a 50% gain in the price of gold and the price of silver the next 12 months.
Thursday, December 29, 2005
Spot Gold 4 hours chart
Not much change today in the precious metals market, at least from a price perspective. Spot gold is basing around the 50% Fibonacci level.Watch out for more and more volatility and expending daily trading range. The same goes for Silver which is doing just fine.
Click on the chart below to enlarge.
Click on the chart below to enlarge.
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