GOLD

[Craig3215]

Went short USD/Zar, expanding triangle on 3 hour and daily chart and currently looks overbought

[Craig3215]

Long term trend line and two fib levels hopefully acting as resistance... good risk reward in my opinion stop at 942.15

[peat]

'Urban miners' fleece cellphones for precious metals

http://www.nzherald.co.nz/section/st...0506650&pnum=0



Eco-System, established 20 years ago near Tokyo, typically produces about 200-300 kg of gold bars a month with a 99.99 per cent purity, worth about $5.9 million to $8.8 million.
That's about the same output as a small gold mine.

[peat]

Could be relevant to gold and silver.....



The

price of platinum could increase by 50% in 2008, according to a
poll of analysts by the Reuters news agency. Prices are pushed higher
by production problems in South Africa and a rise in demand for
catalytic converters using the metal to filter fumes. The poll sees the
median price of platinum at US$2,000 an ounce in 2008 and US$2,100
in 2009. It was US$1,304 in 2007. Anglo American, which produces

40% of world platinum output, has been hit by power cuts and strikes

[peat]

Elliot Wave .com are kinda gloomy at times but when theres a free week on their website as there is now its a good time to read it....




So I sold gold to hedge my silver positions tonite....

[JBmurc]

imho can't see gold fall down through 800 but hey anything can happen the USD has gained well against the EURO still USA #1 export is paper money mid to long term GOLD going alot higher

[peat]

look at what greenspan wrote in 1967 !

http://www.cyclesman.com/greenspan1967.htm