Well Gold is trading up approx. $7.00 around $1,100 (just below to just above back and forth) in world markets today. [US Markets closed for President's Day]. Silver is trading up $0.04 around $15.55. Based on the previous charts posted and new charts the SLO STO has turned above 20 (need two more days above) MACD and RSI are still headed down. I would like to see the price around $15.75-15.80 which should force MACD and/or RSI up. Again, I also like to see three (3) consecutive closes above any support/resistance levels (Stochastic, MACD, RSI trends) before adding to positions. Gold:Silver Ratio is currently around 70:1.
I have been watching Palladium:Silver ratio. A couple of weeks ago Palladium hit a interim high around $460 when Silver was at $18.25. Ratio back then was around 25:1 now it is around 27:1. Trying to decide if I should go ahead and trade my Palladium in for Silver. I personally believe that Silver will trade upto $20 and maybe upto $25 this year. Palladium (if my memory serves me right) typically trades up during Dec-Feb/Mar (as supplies from Russian mines drop due to bad weather) and then fall through the summer. This might be a good time to convert to Silver and then ride Silver up as further US and world pressures cause Silver to climb.
As always please read this Standard Disclaimer prior to taking any financial positions based on my personal ramblings.
Feb 15, 2010 - Gold @ $1,100 where is Silver?
10-01-2011