SILVER v USD

[arco]

The thick red line has been passed (see last chart).

Here's the weekly chart with the potential target zone.
The white zone is both a short term Butterfly and a longer term Gartley area.

Potential for a retrace when Silver reaches that zone.

[arco]

H1 chart.

Short term potential for a small retrace - max should be 15.15 - 15.18 area.

Yellow blob was the H1 day-trade entry/or pyramid spot.

[stevo1]

this clip off Youtube on chinese state television

http://www.youtube.com/watch?v=PqFpl31UwPI


For those of us old enough to remeber the communist Chinese edict to erradicate flys in China many years ago which was sort of a joke in the west at the time but low and behold the fly population at the time was eradicated(almost).

[arco]

Close to a turn perhaps

[stevo1]

Part of a report from Commoditieonline

Full article here

http://www.commodityonline.com/news/...21219-3-1.html


Here in China, our firm SinoLatin Capital has been approached by numerous Chinese companies specifically looking to acquire gold mines in Latin America. We've studied the market for some time and we see China making several Latin American gold mining acquisitions over the next few years. How can retail investors benefit from these trends? One interesting way to play the South American gold market is AngloGold Ashanti (AU



But back to China. How could China affect the price of gold? We live in China and spend a lot of time with local industry leaders and policy makers. We hear repeatedly that the time has come to think seriously about how to survive the perceived dollar devaluation. In some cases we note serious concern, and in other cases absolute dread over a perceived dollar crash.


Over the past six months Beijing has made a series of moves to protect itself against a dollar devaluation. In a recent "BRIC Summit" in Russia several months ago, Chinese leaders came out strongly in favor of a new reserve currency to replace the dollar (including the IMF's "SDR" currency). China is also quietly purchasing mining assets and gold bullion. But the government has recently gone further.
As recently as 2002, the private ownership of gold was prohibited in China. You could be jailed if caught with any in your possession. Beginning in 2009, in a stunning about-face, the central government removed all restrictions. In fact, as Mineweb and other sources report now it is actively pushing folks to buy some personal metal, with China’s Central Television, the main state-owned television company, running news programs cum infomercials, letting the public know just how easy it is to purchase gold and silver as an investment.

[peat]

it looks like a bullish butterfly on silver has almost activated - possibly already has.
I almost made the point y'day that if it went this high it would trigger but didnt rate the possibility that highly.
a negative on this interpretation is that this pattern should really form after a decline whereas here its after a long price rise.... so lets see whether a new high or equal is hit. Im not trading this as such but I'm always happy for silver to rise

[CAM]

Some people must be expecting it to soar....some good margins being made here!!

http://www.trademe.co.nz/Antiques-co...-244674651.htm

http://www.trademe.co.nz/Antiques-co...-244678510.htm

31 grams(aaprox) = 1 ounce

[peat]

rejected from that critical 16.70 area...

[arco]

You have to laugh at their splurge

"*Silver has the most potential to increase in significant value.. "

Yeah right, if its that good why dont you hang on and make the fortune yourself.

[JBmurc]

You have to laugh at their splurge

"*Silver has the most potential to increase in significant value.. "

Yeah right, if its that good why dont you hang on and make the fortune yourself.

yes buying 1grams or sterling is the most expensive way to buy into a real silver holding

guess thats the thing with holding pure silver if you wanted you could take your 1kilo bar an convert it to 1gram tabs you can for a cost---- going off that auction price of 1gram $16 the profit would be very large if the idots are keen to buy such a small amount

as for increase in value
I have average bullion holding cost $25oz
I know from looking at CCU costs of $20 per oz projected off recent reserve grades(CCU could well be in the top 10 silver producers in the world)thing is production of silver costs will only inflate from here as will the price of silver

currently my holding is half 1kilos other half 1oz 10oz going off average trade me sales of late I'm up round 20%