Since last night gold was High $568.20 at 5:10 and low $564.00 at 8:59 at today's NY time. It is trading in a narrower range and establishing the higher plateau of last week. The narrow trading range possibly indicates an accumulation phase from which there will be a breakout. The question is always, will the breakout be upward or downward. Long term, it seems headed upward.
This chart on gold futures with 25, 50, and 200 day moving averages compliments of www.The-Privateer.com, shows a very healthy performance. The last correction took the price below the 25 day moving average, but the price has broken upward through that average again. The 50 and 200 day averages were not threatened during the correction. The Privateer is a great newsletter published by Bill Buckler in Australia. I consider it one of my best resources for political/economic analysis.
Additional buying in India and China's opening trading for gold in dollars have added to the demand for gold. Gold is currently pushing upward at $566.60. It must push some above $570 to establish another upward breakout.
Some early prices today: DROOY 1.58, HMY 14.33, Nem 53.27, and SSRI 18.34. Silver is holding nicely at 10.24.
We had a wonderful worship service yesterday which always serves to refresh the people of God and to challenge us to living in accordance with the Law-Word of God. I hope and pray that you had the same wonderful experience and look forward to next Lord's Day for more of the same.
Best to each, Doug
This chart on gold futures with 25, 50, and 200 day moving averages compliments of www.The-Privateer.com, shows a very healthy performance. The last correction took the price below the 25 day moving average, but the price has broken upward through that average again. The 50 and 200 day averages were not threatened during the correction. The Privateer is a great newsletter published by Bill Buckler in Australia. I consider it one of my best resources for political/economic analysis.
Additional buying in India and China's opening trading for gold in dollars have added to the demand for gold. Gold is currently pushing upward at $566.60. It must push some above $570 to establish another upward breakout.
Some early prices today: DROOY 1.58, HMY 14.33, Nem 53.27, and SSRI 18.34. Silver is holding nicely at 10.24.
We had a wonderful worship service yesterday which always serves to refresh the people of God and to challenge us to living in accordance with the Law-Word of God. I hope and pray that you had the same wonderful experience and look forward to next Lord's Day for more of the same.
Best to each, Doug
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