SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : At a bottom now for gold?
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Bobby Yellin who wrote (1019)12/21/1997 8:53:00 PM
From: Bo Bob Brain  Read Replies (2) of 1911
 
Very divergent picture in the precious metals between gold
and silver. The silver market, even though it was down a bit on Friday, did close abone the $6.00 mark for the first time on a weekly basis in a number of years. Interesting if this will spark more interest in the market going into the holiday period. A word of caution: alot of this movement in silver has been supported by the shortage in warehouse stocks in Comex and in the LME in London. We do have the last trading day for the Dec. contract coming up this week.
Will have to see if the March silver contract continues to take the lead from the Dec. once that goes off the board. That should give us some indication as far as what to expect from the precious metals in the early part of 1998 in silver. Even though silver was positive, gold looks negative on the charts with alot of gaps and resistance. Economic reports continue to show a lack of inflation in the economy.
Without some fundamental news to move them, gold may continue heading lower. Gold up $1.90 to $291.10, silver down 1.8 cents to $6.0055,
Platinum down $1.70 to $355.

The shortened holiday week could bring a respite from the selling in the stock market, however the same conditions could exaggerate any move we see, especially out of Asia. While it will be a shortened week, it should be a most interesting one.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News