silver - from 'silver-investor.com'

  1. dub
    31,073 Posts.
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    3/31/04




    METALS: OVERNIGHT CHANGE to 04:31 AM:GLD+1.20, SLV+4.50, PLAT+7.60 London A.M. Gold Fix $423.00 +$3.50 LME COPPER STOCKS 189,125 -2,625 tons COMEX Gold stocks 3.67 ml +81,645 oz Comex Silver stocks 122.1 ml -97,772 oz

    OVERNIGHT ACTION: Big gains in Asian currencies propelled gold higher overnight.

    SILVER: The silver market has managed another upside breakout overnight and with leadership from gold, talk of inflation and lingering concerns of terrorism, the bulls should be able to maintain control over prices. Unlike gold, silver could see prices gather momentum if the macro economic outlook improves off the coming jobs report, as the prospect of increased physical use is given some credence. The problem with selling into the silver rally, is that one doesn't get the sense that the current small spec and fund position is done expanding. Furthermore, there just doesn't seem to be a short interest to restrain upside action and that could mean that silver is headed for surprisingly high levels! The next resistance levels comes off the quarterly charts another 26 cents above the highs this morning.

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    Highlighting is mine.

    bye.dub

 
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