re: where are silver and gold heading? Subject re: where are...

re: where are silver and gold heading? Subject re: where are silver and gold heading?
Posted 07/04/06 10:02 - 66 reads
Posted by stolwyk
Post #997368 - in reply to msg. #994742 - splitview

Moving up but still below $600

I am very keen that it will stay there for a few days.

Resistance at 600 could be heavy, so Gold needs something to push it well past there to be on the safe side. So, there has to be that extra bit of news which will cause it to rise smartly.

We are lucky because the buying pressure is so great; this make correction more difficult.

Hedgefunds do understand one thing: the USD and they are prepared to give it some time to fall.

That helps locking in prices and makes the life of shorters not a pleasant one.

Gerry