Gold and silver, whichever face selling pressure so far
The most important economic events in the week:
• Central Banks: Mexico, Russia and Thailand reached procurement for 128 tons of gold to diversify reserves. • appeals to Portugal for the sale of possession of gold bullion directed to sovereign debt problems. • Ben Bernanke: the budget deficit is an economic problem and the task facing Washington in the long term. • Russian central bank to raise interest rates on deposits abruptly to 0.25% for the fourth time since last December. • increase in the severity of the financial crisis in Greece with the approaching maturity of the debt. • Gold achieves 1.5% during the week at $ 1,538 and silver flying by 8% to $ 38.60. • continuing decline in the assets of the largest silver Fund I shares Silver (6,778,277 -) ounce during the week!! . • a slight improvement in assets, up more SPDR Gold Trust Fund for gold bullion (360.600 +) per ounce.
We are in the site assessment of the precious metals we believe that the price of gold is still positive in the medium term and long term, mainly due to reduced likelihood of rising interest rates on the U.S. dollar because of the current state of the economy, in addition to the high pace of sovereign risk in the euro area and Japan. In the short term needs gold to take profits, especially with low liquidity and News calm coming from Germany to provide support to Greece for the payment of receivables list, the silver Valogel long and the average is still negative, unless we are waiting for signs of the return of new investments in which after the great escape from the biggest fund silver trader I Shares Silver, where operations continued decline in the funds involved dramatically since last month, noted the study team work site assessment concludes that the silver fund since 4 weeks ago from 34,479,062 - per ounce silver, with lower value of the assets of the Fund's $ 17 billion to 11 billion dollars only.
Fee statement for trading gold (6 months):
• Central Banks: Mexico, Russia and Thailand reached procurement for 128 tons of gold to diversify reserves. • appeals to Portugal for the sale of possession of gold bullion directed to sovereign debt problems. • Ben Bernanke: the budget deficit is an economic problem and the task facing Washington in the long term. • Russian central bank to raise interest rates on deposits abruptly to 0.25% for the fourth time since last December. • increase in the severity of the financial crisis in Greece with the approaching maturity of the debt. • Gold achieves 1.5% during the week at $ 1,538 and silver flying by 8% to $ 38.60. • continuing decline in the assets of the largest silver Fund I shares Silver (6,778,277 -) ounce during the week!! . • a slight improvement in assets, up more SPDR Gold Trust Fund for gold bullion (360.600 +) per ounce.
We are in the site assessment of the precious metals we believe that the price of gold is still positive in the medium term and long term, mainly due to reduced likelihood of rising interest rates on the U.S. dollar because of the current state of the economy, in addition to the high pace of sovereign risk in the euro area and Japan. In the short term needs gold to take profits, especially with low liquidity and News calm coming from Germany to provide support to Greece for the payment of receivables list, the silver Valogel long and the average is still negative, unless we are waiting for signs of the return of new investments in which after the great escape from the biggest fund silver trader I Shares Silver, where operations continued decline in the funds involved dramatically since last month, noted the study team work site assessment concludes that the silver fund since 4 weeks ago from 34,479,062 - per ounce silver, with lower value of the assets of the Fund's $ 17 billion to 11 billion dollars only.
Fee statement for trading gold (6 months):
Points of support and resistance of the precious metals currently:
Change for the month of May 2011 to the largest fund balances for gold traded SPDR Gold Trust:
Source: SPDR Gold Shares
Assets rose more fund for the gold bullion traded by (360,600 +) per ounce during the past week an estimated value of U.S. $ 540 million, a signal is delayed by the entry of new money in the fund after significant decline late last month, with total assets of the Fund 39 million ounces, and increased value assets to levels of $ 59.7 billion, up weekly average of U.S. $ 2.2 billion!
Change since (March) in the largest fund balances of the Silver traded I Shares Silver ETF:
Source: I Shares Silver ETF
Continued asset largest fund silver trader globally serial decline since the Great Depression in the price of silver from the top of the historic 50 dollars, dropping the fund's assets by (6778277) - ounce silver, which is a negative signal for the direction of prices, with an estimated value of the funds Almtforeigp from the Fund within one week about $ 237 million, and that as a result of a mass escape, especially after the news issued by the Securities Commission of America, which requests the disclosure periodically hedge funds of America, which showed a group of hedge funds liquidated assets in the silver final, it should be noted that the assets of the Fund is currently up to $ 12 billion U.S..
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