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« Team: New Venture Update 19 February 2013 | Main | UKIP Nigel Farage, EU no better than a banana republic »
Sunday
Feb172013

Silver Prices Remain in a Consolidation Mood

So far this year silver prices appear to be range trading at around the $30.00/oz level. Gold prices have been under considerable selling pressure which in turn has tended to cap any rally that silver could muster. The anecdotal evidence suggests that the demand for physical silver remains strong, however over on the COMEX the paper shorts appear to have the whip hand.

Taking a quick look at the chart we can see that the earlier violent oscillations appear to be slowing and entering a less erratic phase of movement. We can also see that the price of silver has now fallen below the 200dma which now becomes a resistance level for silver.

The Bulls and Bears are both putting forward strong cases in terms of why they are correct about the direction of silver. You don’t need to read between the lines here as the each camps predictive analysis moves to more extreme pricing with the bulls expecting a moon shot and the bears focusing on the basement. As we see it it’s going to be a close call either way in the short term.

There are occasional signs of a modest, fragile recovery in some parts of the world which may in turn support silver prices as its use as an industrial metal in solar panels, for instance, continues. Silver as money should also be supported by the amount of money printing that is taking place across the globe. This argument is slightly strained at the moment as quantitative easing in its various forms continues without any signs of abatement at a time when gold is heading south. One would expect the reverse to be happening in the gold space, so just maybe this is an aberration which will be short lived, time will tell.

In terms of actionable data we are still of the opinion that the acquisition of physical silver is the first step, followed by a small selection of good quality silver stocks, something we have avoided for the last two years until just recently. And for those in a more adventurous mood a foray into the options arena can liven up ones portfolio. Whatever your particular preference this is not the time to be aggressive in either direction, as always go gently with the implementation of your investment programme. These are murky waters so allowing some time for a clearer direction to become apparent, could serve you well.

Great care will be needed in the selection process in order to generate a reasonable profit and that’s where our new venture begins. ‘Stock Trader’ has begun trading on behalf of ourselves and our much valued subscribers, all exciting stuff which we are really looking forward to, if you wish to join us then please subscribe below;

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Reader Comments (2)

JOINED STOCK TRADER LAST MONTH WHEN IT STARTED HAVEN'T HEARD OF ANY TRADES YET? IS THAT CORRECT. JRG

February 18, 2013 | Unregistered CommenterJ GIEBEL

Hi J,

"You should have been receiving information from us for the last month or so. As you have not we will reset your subscription start date to when you begin receiving information. Please ensure that you have bob@gold-prices.biz added to your safe sender list, and that your e-mails are not being blocked by a spam filter."

Bob K

February 18, 2013 | Registered CommenterSilver Prices

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