it's possible both market and PM will drop tomorrow. I'm not liking Silver action today.
buy gold in these uncertain times
The story still unfolding
You have it so wrong.
USD is in decline due to the trillions and trillions that was printed and WILL continue to be printed by the fed. ZERO inflation risk? After trillions and trillions have been printed and continue to be printed? Think again.
And have you listened Yellen lately? She is reconsidering taper. She is worried about what rising interest rate will do to financial markets.
Taper will only happen when US economy truly stabilizes. With China and emerging markets' economies deteriorating, there's no way we see tapering in a major way.
Gold and Silver will shine this year due to uncertainty risk and supply and demand FUNDAMENTALS. Technically, gold and silver look very strong as well.
"With regards to the US dollar, Fed printing, debt, etc, have no impact on the technical patterns."
So with USD, fundamentals mean nothing, but "Fundamentals for PM are very weak right now" (from your earlier post). Ya sure, that makes sense.
tuckmuck, i'm pretty sure you and hhh9576 are one in the same. Both preaching US dollar oversold (fed still printing trillions..oversold? I think not)...and bullish on 3X derivative JDST.
Warning to everyone: Stay clear of 3X derivative ETFs. These are VERY speculative and can go down 20% in a day! They usually move towards single digits and then gets reverse split. Just look at the charts for JDST and also study other 3X ETFs. Do not think JDST cannot go to single digits from here!
This could be the break out
I think she'll break $1360 tomorrow. We'll see. But you are right, Yellen bullish for GOLD and SILVER!
Gold rises as worries over Ukraine and concerns surrounding a slowdown in Chinese growth lift the metal’s safe-haven appeal for investors.
(Kitco News) – The biggest growth in trading activity of gold future contracts in the last five years has come from China, according to the latest information from the Futures Industry Association.
Monday evening the FIA released its annual report on global trends in the trading of futures and options; Gold futures on the Shanghai Futures Exchange saw the biggest increase volume in the last five years as 20.09 million contracts were traded in 2013, an increase of 416% from the 3.9 million contracts traded in 2008.
As a comparison, in North American, Comex gold options traded on the New York Mercantile Exchange came in sixth place in volume growth over the last five years with 10.69 million contracts traded in 2013, an increase of 141% from 2008 when there were 4.39 million contracts.
“China’s commodity futures markets have been growing extremely rapidly in recent years, but 2013 stands out for the large number of new contracts that entered the markets,” the report said.
The association said that one of the reasons for the growth in the Chinese gold contracts was the introduction of “overnight trading,” which allowed domestic investors to trading during European and North American hours.
Also in the the precious metals complex, the association said that 15 kilogram silver contracts traded on the Shanghai exchange were a major winner as its popularity “exploded over the last year.”
“Silver futures, which were listed on the SHFE in May 2012, traded 21.26 million contracts in its first year, then-jumped to 173.22 million in 2013,” the report said.