Gold Breaks Wedge Pattern—Good News!

Well our gold buying / accumulation opportunity continues — That's Good News!

Silver Price Rise in Context

Silver's rise in context. From Bespoke, This Silver chart really needs no explanation.

The Truly Remarkable Run of Silver

Thursday, April 21, 2011 at 03:23PM
As gold continues to receive all the headlines, silver continues to look at the yellow metal in the rearview mirror.
Below we highlight a few charts and tables that show just how remarkable the run for silver has been. Had you invested $100 in silver ten years ago today, your investment would now be worth $1,037. A $100 investment in gold would be worth about half that at $569, and a $100 investment in the stock market (S&P 500) would be worth -- wait for it -- $107.48.

The two main silver ETFs (SLV and DBS) have gone absolutely parabolic over the past few weeks. Both are currently trading more than two standard deviations above their 50-day moving averages, and just when they seem about as overbought as they can possibly get, they get even more overbought.


From Bespoke Investment Group
Read full article here.

Gold to Top $2,000 on Central Bank Buying

This article points out who the prime bull drivers for gold prices for the near term. Interesting to note that the potential for another gold-price correction may be driven but institutions rather than retail buyers as they try and plan their position in the new economy—whatever that may be.

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Gold to Top $2,000 on Central Bank Buying: Chart of the Day

Published in Market Updates Precious Metals Update on 14 October 2011

Gold is trading at USD 1,675.30, EUR 1,214.20, GBP 1,062.30, JPY 129,036.00, AUD 1,634.90 and CHF 1,503.70 per ounce.

Gold’s London AM fix this morning was USD 1,676.00, GBP 1,062.31 and EUR 1,214.31 per ounce.

Yesterday’s AM fix was USD 1,673.00, GBP 1,065.74 and EUR 1,218.05 per ounce.

Cross Currency Table

Gold is marginally higher in most currencies today and continues to consolidate at the upper end of the range between $1,600 and $1,700/oz. Physical demand for coins and bars remains very strong with GoldCore experiencing a notable increase in demand this week.

Gold in USD – 30 Day (Tick)

Gold is up nearly 3% on the week and looks set to post its biggest weekly gain in more than a month. Markets remain nervous about the risk of contagion ahead of a G20 meeting whose agenda will be dominated by the euro zone debt crisis and steps to tackle the contagion.

Gold should be supported by global inflation data this morning which remains stubbornly high particularly in emerging markets.

Inflation in China and India remains very high. In India, inflation exceeded 9% for the 10th month in a row and in China inflation is at 6.1% but the key food component of inflation rose 13.4% year-on-year in September.

European inflation accelerated the fastest in almost three years in September on soaring energy costs, complicating the European Central Bank’s task as it combats the region’s sovereign-debt crisis. The euro-area inflation rate jumped to 3 percent last month from 2.5 percent in August. Inflation in Germany also surprised to the upside this week.

The Bloomberg ‘Chart of the Day’ shows the proportion of gold in the international reserves of India, Russia, China and Mexico is significantly lower than the rates in the U.S., Germany and France, based on data compiled from the World Gold Council. The lower panel tracks central bank holdings in metric tons and the bullion price since March 2008.

Central banks last year were net gold purchasers for the first time in two decades.

“I certainly expect international central bank gold buying to continue, especially in emerging economies where foreign reserves are growing,” said Gavin Wendt, founder and senior analyst at Sydney-based Mine Life, which publishes reports on the metals industry. “It’s the safest option for them.”

...read full article here...

Return to Gold Standard—Gold Would Hit $10,000!

Good Article - reposted from WakingTheBull.com


Return to Gold Standard? Why Price Would hit $10,000

Source:CNBC
By: John Melloy
Executive Producer, Fast Money & Strategy Session

All the major countries in the world are in a race to debase their currencies in order to restart their economies. Either economic growth returns or—as some doomsayers predict—the 40-year run of fiat currencies ends.

And if under this worst case scenario the solution was to return to the gold standard of the Nixon years, the price of bullion would be worth $10,000-plus, six-times the current price, according to Paul Brodsky, co-managing member of QB Asset Management company and a self-professed ‘Gold Bug.’

...Read more here...

Weekly Stock Market Report

Here is a look at how the major Indices fared this week:
DOW ($INDU)The closed up 141.90 @10913.38 below it's MA(200) @11984.95
S&P500 ($SPX)The S&P 500 closed down 5.01 @1131.42 under it's MA(200) @ 1280.12
Volatility Index ($VIX)The Volatility Index closed up 1.71 @42.96 over it's MA(200)@21.99
Baltic Dry Index ($BDI)The Baltic Dry Index, an index that measures shipping spot freight rates of various dry bulk cargoes closed down 21 @1899.00 over it's MA(200) @1466.94
Gold ($GOLD)Gold closed down 35.50 @1626.50 for the week above it's MA(200) @1528.51
Silver ($SILVER)Silver closed down 1.10 @29.98 below it's MA(200) @36.06
U.S. Dollar ($USD)The U.S. Dollar closed up 0.05 @78.55 over it's MA(200) @76.37
Euro/U.S ($XEU) The Index closed down 1.03 @133.88 below it's MA(200) @ 140.27
Oil ($WTIC) OIL Light Crude closed down 0.95 @78.90 under it's MA(200) @ 95.26


From WakingTheBull.com's Weekly Report: Earnings, Economic Calendar

Marc Faber: "Bigger Financial Crisis on the Way!

Marc Faber - as always a bracing listen and a hardening agent for Goldbagger chemistry!