Texas Trade Report on Gold and Silver For 21 January 2014

Good Morning, Good Afternoon or Good Evening where ever you are in the world. This is Texas Trade Report on the forecast for gold and silver for today. This report is reporting price action movements of gold and silver for today. This is the sole focus of this report.  Before I can go any further, here is the risk disclaimer.

Risk Disclaimer:
Investing in any financial asset does carry the risk of loss. There is the risk of loss of the money have invested. Never invest money that you are not committed losing. There is a possibility of losing your original investment. If you are not sure about investing, seek the help of a registered investment adviser.

The purpose is to inform about price action and direction about gold and silver. It is to report only on information on gold and silver. It is not endorsement to buy or sell to a particular bullion dealer nor it is a recommendation from a particular firm. All opinions are my own and not Blogger.com nor Google.com.

Gold Daily Chart

Onto gold, it is down by 40 cents, which is about 0.03%. It is currently trading at   $1241.70. The fib levels on the daily chart are $1252.02 at the 23.6, $1268.13 at the 38.2% fib level, $1292.50 at the 50% level, at $1331.23 at 61.8 fib level on the daily chart. Gold is holding really well on the daily chart. We see that is not going down like a lot of analysts have forecasted. We see consolidation happening right now.  We are not going to see huge movements down. We can consolidate to hold on the gains. This is what is happening at the moment.

Gold 30 Minute Chart

Onto the 30 minute chart, as you can see, there is consolidating from what it appears inside the Bollinger Bands. We believe this can hold for a bit. It may go down little bit to hold on the gains it has made. We are bullish on gold.

Silver Daily Chart

Onto silver, it is currently trading at 19.87 and is up by a 1/2 cent. It is up by 0.03%. The key fib levels for silver at 50.0% at $20.94 and $21.45 at the 61.8 fib level on the daily chart.  We do see that silver went down about a dollar and half almost. Silver remains caught this consolidation that has been going on for a while. We do see that is slowing creeping out of it.

Silver 30 Minute Chart

On the 30 minute chart,  we see the upward march for silver. The consolidation phase can go one for a while. It cannot go on forever. We do see these little movements do signify that we are go to the upside and will happen. We do see a things very bullish for silver going forward.

 The real story is happening in the metals markets. We do see some slight minor pullbacks, but is nothing to be alarmed about. We do see the overall markets are not exactly thrill with the data like unemployment, and anemic growth are not really helping. We do see the papering over the problems more problematic. It is exactly like painting the house with termites eating away at the foundation concealing what is really happen from a prospective buyer. Mostly, we don’t see that these problems can be hidden for much longer.

The evidence from gold, silver, platinum and palladium does signify economic conundrum many countries face. We see that with many of the major indexes are like the S & P 500 going in the same direction as the dollar most of time. This is something to be concerned about. When  you see gold and silver go up and make minor corrections in price, you can expect it that both metals will reinforce the notion the economy needs to be fixed. Most of all, no one can expect anemic growth to be real growth when the data does not really support a true economic recovery.

The overall picture from the precious metals like gold, silver, platinum, and palladium are saying the governments around the globe are engaged reckless monetary policies will hamper growth. The policies that we are seeing from the central banks are something you would with smaller countries. If they do engage in any kind of QE is much smaller and done for smaller length of time. What we are seeing endless QE that will end in future date very badly. The problem will when interest rates will have to be raised. This will be the ah ha moment that many have been waiting for. Overall, the real winner in this fight will be the people who are investing in gold and investing in silver. Moreover, when this correction in the markets outside of precious metals does happen , it will take many people by surprise. Have a great day and will put another later on.

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