Live Business Chat
2015 Oct 08, 05:57:54 pm *
Welcome, Guest. Please login or register.
Did you miss your activation email?

Login with username, password and session length
News: This is a friendly non-profit discussion group about making money. Click the "NOTIFY" button every chance you get to receive instant alerts about new information. We don't like spam. If your first posts are about something you want from us, it is probably spam, and you will be banned in forums worldwide. No soliciting! If you have problems with the forum, contact badon in the business chat.
   Home   Help Search Calendar Login Register  
Pages: [1]   Go Down
Author Topic: Market Commentary - Feb 03, 2011 - Gold & Silver Pop on the Bernank  (Read 683 times)
0 Members and 1 Guest are viewing this topic.
Capitalist Pig
Offline Offline

Posts: 17830

« on: 2011 Feb 04, 05:02:01 am »

As it turns out, yesterday was the calm before the storm. In addition to an actual storm raging in the South, our illustrious chairman, The Ben Bernank, gave a speech to the press. Among other things, he basically said that the monetization of the debt will continue and that despite rising commodity prices, inflation is still too low. Traders responded by driving up the prices on everything.
Let's look at today's numbers:

US Dollar ETFGold ETFSilverDow 30S&P 500
22.35+0.80%  1322.00+1.34%  28.84+2.09%  12,062.26+0.17%  1,307.10+2.04% 

As you can see, everything went up. Even the dollar, which would normally be going down if everything else went up. If you look at the graphs on gold or silver, you will see a spike in the middle of the day - that was the speech. The market has definitely rejected Bernanke's idea that inflation is too low when every agricultural commodity is hitting record highs.

Silver is approaching a resistance level of 29. We'll have to wait and see if it pushes through or retreats.

Happy trading!


Neal McSpadden
Get Coin Investments List Updates Here
The Primal Prepper - my blog about preparing for the worst while living the best
Pages: [1]   Go Up
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.18 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!
Page created in 0.029 seconds with 17 queries.