The Skinny on Gold and Silver - Voice of the People
April 19 2012 - 12:42PM
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The Skinny on Gold and Silver
One of the best indicators of inflation and deflation is the
action in gold and silver. When gold and silver rally it is telling
us that inflation is taking hold, the opposite is true when gold
and silver decline. The precious metals will usually trade inverse
to the U.S. Dollar Index. This morning, the U.S. Dollar Index
plunged after the opening bell rang at the New York Stock Exchange.
This type of action in the dollar happens very often. A falling
U.S. Dollar is always beneficial to the precious metals.
The popular SPDR Gold Trust (GLD) is trading
higher 0.61 cents to $159.90 a share. The GLD will have intra-day
resistance around the $160.75 area. Traders must remember that if
U.S. Dollar Index rallies higher the precious metals are likely to
pullback further. Some other ways to play the precious metals will
be use equities such as iShares Gold Trust (ETF)
(IAU), Sprott Physical Gold Trust (PHYS) and the ProShares
Ultra Silver (ETF) (AGQ).
Nicholas Santiago
InTheMoneyStocks.com
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