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Friday Market Review

Sep 19 Gold Price Tumbled $10.40 to End Comex at $1,215.30 Franklin Sanders
In 2008 and 2009 silver traded out to a triangle. The apex of that triangle is about where silver traded today (a little higher). It is not uncommon for markets to trade back to that apex, so mayhap that's what we are witnessing. Next support below $17.50 is $14.65. The SILVER PRICE has broken to a new low, but not gold. In June 2013 silver hit $1,179.40, then in December $1,181.40. That is the most likely goal for this fall, but given how oversold both silver and gold are, and how overbought the US dollar, gold might also stop here. Also, gold is punching into its long term uptrend line from 2003, so this is serious. Silver remains above the analogous uptrend, which today comes in about $17.40. Good place to stop....

Sep 19 Daily Report Harvey Organ
Gold closed down 10.40 at $1215.30 (comex to comex closing time ). Silver was down 64 cents at $17.78. In the access market tonight at 5:15 pm - gold: $1215.30; silver: $17.78. GLD: we lost 7.78 tonnes of gold at the GLD (inventory now at 776.44 tonnes). SLV: no change in silver inventory/note the difference between gold and silver. Physical gold that arrives from the Bank of England is sent down to Shanghai who lately has been receiving greater than 40 tonnes per week with the lower gold prices. In silver, there is no reason to raid the SLV because there is no physical silver to provide India or China.

Sep 19 Gold And Two Types Of Paper Morris Hubbartt

Super Force Precious Metals Video Analysis
Here are today's videos:

Gold And Two Types Of Paper Charts Analysis
Silver MACD Bullish Actions Charts Analysis
Commodity Assets Fuel Cell Charts Analysis
FXI (Chinese Stock Market ETF) Key Breakout Charts Analysis
GDXJ Is Still The Leader Charts Analysis

 
 
 

 
 

 

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