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  • Wall Street higher with The Bernanke, Gold and Silver Higher 0 comments
    Aug 27, 2011 4:50 AM | about stocks: SPY, GLD, USO, FXE, UUP
    US stock markets closed higher on friday 26th of August with investors waiting for more Fed stimulus.
    Silver and Gold closed higher recovering from the losses earlier in the week. Last week was an option expiry week for these metals, in the last expiries prices have trended town and then up after the expiry occurs.
    The Euro was higher over one figure vs the USD.
    West Texas Intermediate Crude Oil closed around $86 per barrel.


    The Big Picture

    The Second Great Depression has started, stock markets will suffer an historical crash that will be clear in 2012. This Greater Depression is just starting and will last several years, changing the political structure of the world. Crisis generate carismatic leaders with a ditactorial style and great wars.

    Gold and Silver are taking their rightful place as currency with intrinsinc value, unlike paper currencies.

    They are refuge and protection, also from a fiscal perspective.

    Source: Dshort
    Outlook

    S&P 500 presents resistance at 1211 points and some support at 1114 points and lower at 981 points.

    Gold presents short term resistance at $1857 to $1872 and support at $1656 to $1645.

    The Euro euro presents resistance at $1,4750 and support at $1,3730.

    Crude Oil presents short term resistance at $91,50 and support at around $82.


    Watch top financial clips updated everyday at:   TAO Investor

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