very intersting
thank you xtrade
thank you xtrade
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DislikedSilver still pretty difficult to chart but this 240min SI seems reasonable - I like the validation from the lower parallel touches and then the upper parallel resistance becoming support....
http://www.screencast.com/t/7gpUPEn56oIgnored
Dislikedbeeb's chart and mine are quite similar and still valid. As sixgun said, we are sitting at the 1st warning line for over 36 hours (except for that funny spike yesterday, when it touched $47.20).
A difference to my fork is: mine is shifted, so I have a median line between beeb's upper parallel ($45.50) and 1st warning line ($48.20). Therefore, I see an extra support line at $46.80.
Three supports for silver. Upwards... we may get close to $50 again, but I'm not sure about the volume level today and Monday. Let's see.
So guys... I would love...Ignored
DislikedWe usually look at gold in USD terms and that it is in a massive bull market.
Well it is in a massive bull market but our view is distorted by USD weakness.
http://www.goldprice.org/spot-gold.html
If you fiddle around with the chart on this page you can get gold's price over time against various currencies.
Gold against the Swiss franc is not at all time highs. It is in a tremendous bull run over years having said that.Ignored
DislikedI believe (not 100% sure) the Swiss franc is still backed by gold by a certain percentage.Ignored
DislikedI read just last night that by law the CHF had to be gold backed but then they joined the IMF and it is against their rules for its members to back their currency with gold!
http://www.24hgold.com/english/contr...92339902G10020
There isn't enough gold in the world to back currencies or the value of gold would have to increase ++++++++++++++
The whole thing is a scam. A massive, massive scam. The US has a private central bank which controls the money supply and interest rates. A private bank,...Ignored
Disliked... your question sounded dumb and as such would be ignored. You could have generated a discussion on why the swings are so violent even for this wild whipsaw commodity.Ignored
DislikedI've never understood the: there isn't enough gold argument. If a currency can inflate then it can also deflate. You just revalue gold to the current supply of money in circulation and use that as the base for the backing in gold. In the case of the US, I think that would be like Gold 8000 - 10000.
I need to buy some books on the the gold standard to really understand in detail how it works.Ignored
DislikedIs Bernake due to speak today also...?
What worse does he want to do for the dollar..?Ignored
DislikedWhy would bernanke speak today ? Just take a look at the calendar, no mention of fomc. It's not like he just happens to jump in front of a bunch of cameras every now and then.Ignored
DislikedI didn't see anything about it...
Does anyone see a spike to $1542 in gold? I got some shorts triggered at this rate!Ignored