Short note on gold/silver
Posted by Frugal on May 7th, 2008
Sorry, my site was down, and I couldn’t put up anything.
This morning, Fed came out and talked empty about inflation threat. I don’t know why anyone is still listening to Fed, but nevertheless, PM complex went down by some 2%. My model would have generated a buy signal in about 2 days. Looks like it may take a bit longer.
In any case, unless a big fall towards $820 level happens (which is still on the table), or a bigger rise in $US, the worst in PM is probably over for now. With that said, PM has a tendency to consolidate in a big range for a long time before any soild concrete gains can be established. So just be prepared for the volatility if you decide to purchase.
Best,
Frugal
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May 7th, 2008 at 8:55 pm
the worst in PM is probably over for now
Does that mean it’s probably hit the minimum? Or that the volatility is over for now?