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.
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.
If you like the
information that has been presented, bookmark this page and the Texas Trade
Report Blog in your favorites and send link to it to everyone you know. Blog
about it on Facebook, Twitter it to friends and family. That is the way it
unfolds.
No comments:
Post a Comment