Commodity Trade Mantra

Posts Tagged ‘Gold and Silver Index’

Silver Breakout Indicates A Dramatic Bull Move Higher

Silver prices on a weekly basis have broken above the six month forward looking average, indicating that trending behavior could result. The silver breakout shows like it could begin a bull move higher. While silver might be on a bull market run higher, there could be intermediate bumps in the uptrend and a potential re-testing of the break-out region.

Gold Prices Are Breaking Out; Goldman Stumped

After a long time, the Philadelphia Stock Exchange Gold and Silver Index has broken out on an absolute & relative price basis to put in what appears to be a meaning bottom that is bullish for gold and silver mining stocks. We maintain this bullish view as long as the absolute & relative price trends hold above the weekly moving averages, which should provide support on pullbacks.

Is the US Dollar Rally Nearing Its End?

Past dollar rallies of this type have mostly seen a dollar appreciation of around 20% & lasted from under a year, meaning the current rally is already extended. Also, disappointing U.S. economic data is mounting and being largely ignored. Valuations suggest that the U.S. dollar may now be the world’s most overvalued currency.

These Gold Charts Will Make Your Heart Beat Faster

Gold lovers’ hearts beat faster last week, as the precious metal rose above $1,300 an ounce, its 200-day moving average, for the first time since November. So while gold may correct over the next several months during its seasonally weak period of the year, this looks promising for gold investors.

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