Commodity Trade Mantra

Posts Tagged ‘Gold and Silver Price Rally’

Gold Jumps, Silver Soars As The U.S. Dollar Slumps

Gold prices jumped to a seven-week high & silver soared to a 15-month peak as the dollar touched an 11-month low. With Japan closed today, and unable for now to do more damage (or damage control), China stepped in with some modest turmoil of its own by strengthening the Yuan fix by the most since 2005, pressuring the US dollar weaker for the 5th day in a row.

Charts Amplifying the odds for a Gold and Silver Price Rally

We see the daily charts amplifying the odds for a rally in gold and silver prices. The first seven TDs [Trading Days] in June had the highest volume, the greatest selling effort, all but one of the TDs were red. Typically, smart money [controlling interests], sells highs where you would expect to see selling volume greater.

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