Gold Overview

Faced with few choices, investors kept on rushing into gold, looking for an alternative to park their assets. It seemed the previous day’s story with the US interest rates expected to stay low for longer, did not run its full course and the dollar continued to be discarded as a consequence. So, the bullish momentum in gold showed no sign of abating as we saw another $9.40 added to its market price, closing at $1719.90. The next resistance is just below $1740.00 and then around $1760.00 but the possibility of profit taking before that, should also be considered.

     

Moving Averages:   9 day 1680.63        14 day 1666.62       40 day 1637.93

 
Silver Overview

 
A fast declining US dollar also spurred demand for silver as a cheaper alternative to gold. The intraday high of $33.795, last seen on Nov 17 has opened the way for the next upside target at $34.610 but ultimately the big question for bulls will be resistance at $35.678. The moving averages point to a steady and healthy advance but the fact the nearest M.A. is at least $1.50 away also invites to caution.

Moving Averages:   9 day 31.986     14 day 31.253      40 day 30.202