The IMF announced 200 metric tonnes sale of gold to the central bank of India. This is more indication of central banks moving out of the paper money and into precious metals. Everything is speculation, but as the dollar continues to struggle, nations will be looking to run to something of value. This could cause a major devalue of the dollar as more and more traders and nations move away from the greenback.
Showing posts with label India. Show all posts
Showing posts with label India. Show all posts
Tuesday, November 3, 2009
Monday, October 5, 2009
Gold and Silver: Bear v. Bull
There still seems to be some mixed feelings as to if the gold/silver market is bullish or bearish. Indicators are mixed, leaving many scratching their heads. Here's what we do know. Gold has stayed at are near $1,000 this entire month, silver continues in the $16-17. The dollar shows little signs of life and is taking another beating against the Euro and other foreign currencies. However, on the flip side, how long before investors decide it is time to sell and take profits. This could create a self induced correction that history shows, can be sharp.
From reading and listening most believe if gold and silver continues to hold steady, then it is time to jump in and buy as that signals a sign the prices are going to remain. This really seems to the direction as so many signals (including the demands in India and China) indicate a bull market with an extended life. The best move right now might be sell, take some profits and wait. If the correction comes jump back in hard, if it does not slowly re-invest a little at a time. Remember hogs get slaughtered.
Gold and Silver Prices
Prices for both gold and silver seem to going a bit sideways today. Gold is up $2, while silver is up .09. Not much movement for either at this point in time. There is indications that the world's largest gold market India, is seeing an increase in demand. This is good news for gold investors, but could only be a temporary spike.
The dollar continues to struggle and former Fed Chair Alan Greenspan noted he believes unemployment could be going to 10%. Not a bold prediction considering it is currently over 10%. However, both could have long term meaning for the price of the gold and silver.
Have a good morning and I will be back later today.
The dollar continues to struggle and former Fed Chair Alan Greenspan noted he believes unemployment could be going to 10%. Not a bold prediction considering it is currently over 10%. However, both could have long term meaning for the price of the gold and silver.
Have a good morning and I will be back later today.
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