Mining equities continued to march higher but overhead resistance is seen in many equities. |
News that the German government has deserted plans to invest proceeds from gold sales into a special fund assigned for research and education has given a boost to a weak gold market. |
Pullbacks are expected to bring in willing buyers. |
Silver is taking center stage ... with the news of Barclays' silver ETF a step closer to possible approval. We have some gold investors moving into the silver market. |
Silver is taking center stage...with the news of Barclays' silver ETF a step closer to possible approval. |
Silver stocks are powering ahead ... taking the HUI above the 315-316 resistance to all-time record highs. |
The buying over the last two days [in gold] has been in Asia, with the Europeans and Americans acting a bit nervous. |
The launch of the silver ETF is expected to draw large investment money into the silver markets, which would most indisputably take silver prices much higher. |
The main driver continues to be the silver ETF and this is taking [silver] to fresh 19-year highs. |
The market still shows interest in marching for the $600 level in the short run. But a break of the $540 area support will negate this and instead, we will have to [see] some more base building before the next run-up. |
The move on the HUI today above 350 is significant as it portends the move in gold to and past $600. |
The price [of silver] may move higher in anticipation of the launch, but once it hits the markets, initially the price may retreat after strong gains. |
The real action remains in silver, taking away from gold's luster. |
The typical investor has yet to discover the attractiveness of this asset -- the gold price is just starting to reflect this move as investment dollars flow in. |
This has resulted into greater attention to the juniors and exploration equities, with a renewed flow of speculative capital entering this sector over the past several weeks where some strong gains have been seen. |