Skip to content
June 2, 2011 / Hal (GT)

Gold today finds pressure over night and into the morning.


exactprice desktop app

ExactPrice

Some days you just can’t go up. And you know what? That’s healthy. And keeps things from getting boring. Looking at the widget on my desktop I can see two points in the last twenty four hours where a big seller, or two, came in and sold for some profit taking.

Exact Price Silver chart for 6-2-2011

Silver chart

The silver graph is even more interesting to me. The metal definitely came under more pressure and has a more difficult time recovering.

But should we be worried by this action? Well, I’m not. In my opinion the long term outlook is still bullish.

In part I have to admit to getting a kick out of watching all this action and all these moves to keep the lid on gold. And in part I think that is what today’s action is. There is a lot fear and uncertainty in the markets and in the world. Which brings me to the news of the day.

The first item was tweeted by Laura Gross (if you’re on twitter follow her for great info) and I found it an interesting read: The Door is About to Shut for Americans.

More job seekers give up, reducing unemployment <- You don’t count if you are out of work and not looking for a job.

Horror for US Economy as Data Falls off Cliff <- Don’t be a lemming, do you’re own research and OWN the decisions you make.

Worth seeing -> Illustrations Are Not Just Cartoons.

You can read Ed Steer’s Gold and Silver Daily for his thoughts on yesterday’s action and how JPM is behind some of the price drops.

Wall Street Baffled by Slowing Economy, Low Yields: Trader <- Doh! This makes me laugh.

Bionics Are Breathing Down Our Necks, Part 2 <- This is an interesting read.

Sean Boyd – Expect New Record Highs in Gold This Summer <- I’m hearing this sort of thing from a number of folk.

Turk – Metals Will Be Hot This Summer, Gold to Hit New Highs <- An interesting read.

Gold is the only place for new money in June <- commentary on MarketWatch.

Hourly Action In Gold From Trader Dan <- Always worth a read.

What Do You Know About Silver Trends in 2011? <- Great info on the silver market. Some info that might surprise you.

U.S. Mint’s American Eagle silver sales so far this year best since 1986

Great Depression Looms, Money Managers Panicked: Trader

Scotia Mocatta Loses 60% Of Its Physical Silver In One Month To “Reclassification”, Total Comex Registered Silver Now Under 30 Million Ounces

What I Think <- Some things to think about.

Gold Video of the Day: Is Gold a Currency or a Commodity? <- currency! currency! currency!

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: