The consumer confidence index dropped a bit but FED minutes manage to build some optimism for stocks. As interest rate increases are less probable, the USD went down and Gold reversed since 607 but couldn´t break 614 (that was the number for today!). Silver, which was also falling hard, had an amazing recovery and is now resting just above 12.20 support, showing again more strength. We have to pay good attention to it.
terça-feira, agosto 29, 2006
Gold and Silver
The consumer confidence index dropped a bit but FED minutes manage to build some optimism for stocks. As interest rate increases are less probable, the USD went down and Gold reversed since 607 but couldn´t break 614 (that was the number for today!). Silver, which was also falling hard, had an amazing recovery and is now resting just above 12.20 support, showing again more strength. We have to pay good attention to it.
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