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Archive for 15/04/2011
Rate increases elsewhere
15/04/2011 by Philinje.
This excellent article points out something interesting: rate increases by central banks around the world may require more QE in the US. He doesn’t say that - instead, he’s worried about speculation ending abruptly as interest rates rise. But that is a pressure that could keep the Fed stimulus-oriented.
Food for thought.
Posted in General | Print | No Comments »
New, old projections
15/04/2011 by Philinje.
Gold and silver had a quick retracement this week and are on the move again. The gold breakout has been verified and silver is super strong, catching up in accelerated fashion after lagging for the past few years.
Short-term, there is a target at roughly $1500 for gold and $43 for silver. And maybe this rally will last till the end of QE2 on June 30. In which case, the target could be $1600 and $50. At $50, silver will finally have exceed its all-time high in 1980.
Early this year several commentators had their eyes on $1600, and then there was a brutal shakedown. But now, if gold can overcome $1500, the old target of $1600 is back in play. The level to watch on the US Dollar Index is 74, which may equate to $1500 gold. If the dollar drops below that level, gold could achieve $1600. But we have to watch for a dollar reversal. There will at least be a bounce.
Fed comments at the end of this month could be the decisive factor.
Posted in Gold | Print | No Comments »