Monday, April 30, 2007

Feeling Ripped Off?

Gold closes April 2007 at all-time monthly "closing" high?

China Lifts Bank Reserves In Bid to Cool Growth
BEIJING -- For the seventh time in less than a year, China's central bank raised the share of deposits banks must keep on reserve as the government struggles to soak up capital and keep the country's economy from overheating.

And China's economy has continued to grow at a double digit pace after each increase. Funny thing about China and it's economy. The geniuses in our illustrious Congress would like to pressure the Chinese into allowing their currency, the juan, to rise. Do they not understand that a rising juan will cause a falling US Dollar? LOL, as if the US Dollar needs any help falling...

For the month of April 2007 Gold was up 2%. For the month of April 2007 the US Dollar was down 1.7%. Why then, as a Precious Metals investor, do I feel like I was ripped off this month?

Oil... Oil refuses to go down. When oil cracks $67, $700 Gold will not be far behind.

Euro gold stayed under €500.

This whole scenario is getting ridiculous. Remain focused, maintain your convictions, be patient. Consolidation is a good thing. Think of it as massing the troops for an overwhelming assault on dem Rat Bastids.

Silver Resistance: 13.45 / 13.55 / 13.67

Silver Support: 13.39 / 13.33 / 13.20
____________________________________All prices SPOT

Gold Resistance: 681 / 686 / 691

Gold Support: 675 / 670 / 666

Must read!

Why The Price Of Silver Is Set To Soar
Precious metals remain the most undervalued of all the asset classes. Precious metals, and particularly silver, remain the most undervalued of all the commodities. Silver is even more undervalued than gold and is undervalued when compared to other strategic commodities such as oil and uranium.

No comments:

Post a Comment