Notes on today’s Silver Chart

Silver is responding to the “Free Money” environment being maintained by the Fed to keep the US economy limping along as it shot higher when the Dollar dropped lower and fell below the 79 level on the USDX chart.

It is once again knocking on the door of a heretofore very stubborn level of chart resistance that begins at today’s high and extends into the region just north of $35. If silver is going to mount a breakout move and start a trend higher, the bulls must beat back the selling that is going to come in at this level. If they do, they have a very good shot at a rather quick move to $40.

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Gold Silver ratio screams buy silver

Dominique de Kevelioc de Bailleul: If ever a chart signaled a time to buy, it’s the silver chart. Breakouts are everywhere, with the big one at $37 still ahead of us. Then there’s nothing between that price and $50.


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Mining Stocks Yet to Go Up Decisively

According to Goldman Sachs, gold provided the best returns of all commodities in the past five years when adjusted for volatility and says the rally will continue as options traders signal no change in the metal’s relatively low risk. The Bloomberg Riskless Return Ranking shows the Standard & Poor’s GSCI Gold Total Return Index produced a 6.5 percent risk- adjusted return in the five years that ended last week, the highest among 24 commodities tracked by S&P, data compiled by Bloomberg show. Silver, the next-best performer, yielded a risk-adjusted gain of 3.1 percent, while a total-return index for all raw materials slipped 0.2 percent.

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Great Deals on Gold and Silver

GoldMoney Founder and Chairman James Turk knows how to find great deals on gold and silver. He claims that the 2012 bottom for gold came during the first week in January. If the year’s low is already history and if his projection that gold will hit the $2,000/oz mark within three months is on target, you do the math. “Gold is way too cheap,” he tells The Gold Report in this exclusive interview.


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Gold Chart

Gold bulls breached resistance at $1750 but have been unable to keep the market ABOVE that price. That will be necessary for them to set up a run towards $1775- $1780 where a major upside resistance level is located.


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The Stock Market and the Dollar Sustain the Bullish Environment for Precious Metals

This week marked the Year of the Dragon in the Chinese calendar, and according to Chinese mythology, Dragon years bring powerful changes and optimism representing imperial power, prosperity and good luck. This year is supposed to be even more auspicious since it’s a Water Dragon year, something that occurs once every 60 years. We admit that we don’t yet use the Chinese Horoscope as a technical indicator, and who knows, perhaps we should. One thing is certain—the Year of the Dragon began with an auspicious move for precious metals. The dragon that breathed fire into precious metals prices was the Federal Reserve which announced this week that it is planning to keep interest rates at rock bottom for some years and hinted at further economic stimulus measures. Gold prices hit 6-1/2 week highs on Thursday as stock markets, commodities and the euro all rallied. This followed Wednesday’s biggest one-day rise in three months after the Fed said it might consider further monetary easing through bond purchases (creating fiat currency out of thin air) and pushed back the likely timing of an eventual interest rate hike to late 2014.


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