Entering text into the input field will update the search result below

Gold and Silver Bullion Review

May 09, 2011 12:34 PM ET
The LFB profile picture
The LFB's Blog
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Seeking Alpha Analyst Since 2008

The London Forex Broadsheet™ (https://www.thelfb-forex.com/) (commonly known as TheLFB™) was formed by institutional traders and business professionals with a strong desire to give something back to the retail trading community. TheLFB team has over three decades of trade experience in institutional environments. TheLFB team comprises a mixture of analysts and business professionals who have built and worked in trading rooms globally, and have played key roles in developing Fortune 500 companies. The main LFB website is a visual tour-de-force — fun, bright, collegial and uncluttered. There are designated areas which cater to all special interests and needs. Blogging, analysis, economic calendar, trade desk, virtual trade room, daily broadcasts, trade alerts, and an array of features as deep as it is broad.

New signal formed on gold

News wires are covering the increase in bullion margin requirements required to hold positions as a reason for recent declines. TheLFB client note updates have highlighted that moves lower may soon start to be reversed.

A new signal was sent to clients overnight, with gold bullion revealing that a break above 1506 could be sustainable if global equity and risk markets find buyers. Silver set up a buy signal but failed to confirm that potential and momentum would be strong enough to follow through on Monday.
Sentiment towards bullion trade remains mixed. Price momentum favors a bounce off support that buys the recent dips on both GLD and SLV markets. Caution is required in expecting a collapse of GLD and SLV values below 1460 and 32.50 respectively.
Price Action:
There was strong buying activity at 1490 on gold, and 33.00 on silver in March, which are now potential price reversal areas of note. These swing point areas, where a near-term trend forms and price action reverses previous trade direction, will be closely monitored and signals and alerts sent to subscribers as things unfold.

The daily trading range is $19 on gold and $1.20 on silver, both of which are above the historical norm. The 50-day Simple Moving Average on gold is @ 1458 and @ 42.00 on silver. The 20-day SMA on gold is @ 1501 and @ 38.70 on silver. 

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.