Posted by: Babu Suresh | February 27, 2009

Spot Gold & Silver – 27th Feb.09

Spot Gold 1H ChartsSpot_Gold_1H_Chart_270209

Folks, its beginning to emerge from the recent price actions of Gold & Silver, which are projected primarily by all the media, to be moving up and down based on stock prices move and safe heaven investment while going up and profit booking while going down, my instinct tells me that the erstwhile infamous sub-prime artists are still out there, only this time with their new design to play with Gold & Silver to cover their losses, under the disguise of safe heaven investment, weak economy and et al.

Although my analysis works very well in this market, which will work in any market, there is a tinge of feeling something is amiss.

Spot Gold is still working hard to remain above her nearest support at $919.

Spot Silver 1H ChartSpot_Silver_1H_Chart_270209s

At the time of writing this post, Spot Silver successfully surged past after taking support at $12.81, however, I would exercise caution and be prepared for yet another steep fall.

Healthy And Wealthy Trading

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