market report: currencies, gold, silver, oil

  1. 22,691 Posts.
    There is still unease about statements made by some countries about the dollar. It is in the open and Greenspan can't put a spin on it.

    LATEST: Euro: 1.325 (+0.0064).

    Gold is erratic: $434.9 (+1.40) Silver 7.31 USD 82.62 (-0.24), as mentioned before, it is trapped and no amount of TA will push it. I do note again that many TA people thought that gold would go for another big run and the message was spread far and wide.

    A colossal blunder that was. How can it with still growing deficits and this talk from countries wishing to "diversify" their currency reserves.

    Oil is moving ahead: $51.49-Not good news for the US economy and deficits.
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    Some previous market news:
    http://cbs.marketwatch.com/news/story.asp?guid=%7B8EA97D6A%2D77F1%2D4E6A%2DB0FB%2D659AC947C651%7D&siteid=mktw

    Paul van Eeden:
    http://www.kitco.com/weekly/paulvaneeden/feb252005.html
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    The WGC (World Gold Council)has prepared the 2004 Gold Supply and Demand Data. The supply ran 124 tonnes short.

    On HC I estimated it at 20 tonnes but the CB's put some up for sale in the last quarter:
    http://www.gold.org/value/stats/statistics/gold_demand/index.html

    Gerry


 
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