[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/usdx.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blo…14/1988/1600/xaueur.1.jpg]
Beiträge von golderx
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Orange Juice Futures (NYBOT: OJ) , quarterly all time chart.
[Blockierte Grafik: http://photos1.blogger.com/blo…00/orange-juice%20-oj.jpg]
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The continuous crude oil futures closed the week at new all time nominal high. The triangle pattern initial target is ~ 81$.
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/crudw.jpg]
source: commodity charts
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[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/HMY.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/ssri.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/GOLD.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blo…14/1988/400/gldix33.1.jpg]
source: Gold and Silver Mining Stocks
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[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/xaueur.0.jpg]
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[Blockierte Grafik: http://photos1.blogger.com/blo…4/1988/1600/crude-oil.jpg]
[Blockierte Grafik: http://bigcharts.marketwatch.c…gs=1&rand=9459&mocktick=1]
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Since the acquisition of Placer Dome by Barrick Gold corp. (ABX ) Newomont Mining Corp.(NEM) is no longer the biggest miner in terms of gold ounces production.
Newomont Mining Corp.(NEM) is degraded to the second position and the Enlarged Barrick Gold corp. is holding a very large hedge position. Estimated by the Q405 hedge book publication of virtual metals at 12,500,000(ABX) + 7,496,000(PDG) = 19,996,000 Gold ounce short position. Newmont Mining Corp.(NEM) still remains the highest USD trading volume stock, component of the S&P 500 Index and also included component at:
AMEX GOLD BUGS INDEX (HUI) ,PHLX GOLD AND SILVER SECTOR IND (XAU), CBOE GOLD INDEX (GOX) and Dow Jones Gold Mining Micro Sector Index (DJMSPM).[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/nem2d.jpg]
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Aluminum is a partial substitute for copper; currently copper is more then two times more expensive then the same weight of aluminum. Aluminum is also a component of the Deutsche-bank commodities index DBLCI which is tracked by the DBC ETF.
[Blockierte Grafik: http://photos1.blogger.com/blo…88/1600/SharpChartv05.jpg]
source: http://cmd-chart.blogspot.com/
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Gold @ new multi year highs
Finally gold succeed to follow the price of silver and surpass the 2006 Feb peak. Silver continue to climb faster then gold, the XAU / XAG ratio around 50.5.
[Blockierte Grafik: http://photos1.blogger.com/blo…14/1988/1600/gold777a.jpg]
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Gold / $,Gold / € & Gold / ¥ [update] @ My Gold & Silber blog
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Gold spot powerful action (possibly [c of C] bottom reaction)
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/augg1.jpg]
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[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/XAuusd.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/xaueur.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/xaujpy.jpg]
source: http://globalgold.blogspot.com/
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[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/au11.jpg]
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/ag11.jpg]
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As appears on the daily chart below gold short term trend is still up. The channel is still intact and the price of gold is close enough to the bottom of the channel, the top of the channel is currently above 600$ and raising. I cannot guaranty that the eight days or so correction is over but it appears that the bottom of the channel, the Fibonacci retracement lines, the 50 days moving average and 2005 highs gave enough support for the price of gold to bottom and reverse.
http://globalgold.blogspot.com/
[Blockierte Grafik: http://photos1.blogger.com/blogger/7214/1988/1600/gold_up.png]
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It is yet to be seen if gold and silver already bottomed or is another wave of selling coming? , this week lows are the key answer. A climb above this week highs will almost certainly confirm the bottom while a slide below this week lows will indicate another wave of selling could be expected. Caution is advised for those holding margined positions, while those who have no position can start accumulate averaging up or down, it will not be long before new multi years highs are made – this is my opinion. Those holding a short position should be aggressive buyers at current levels. The Increased volatility in the price of gold is a bullish sign and we are probably going to see huger intraday price movement, once market forces realize that gold and silver are not going lower and the bottoms are in, expect some kind of shorts capitulation which will propel gold to above 600$ and silver to above 10$.
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