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FSN: Au & Ag: Test in Progress
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Gary Tanashian
Gold Seek
From last week’s Wrap Up Segment:
“So we will continue to manage risk in the very short-term because this has worked well for 6 months now and gold and silver look vulnerable technically for at least a test of major support.”
Despite its improved CoT structure, silver looked especially vulnerable last week because its chart pattern was simply screaming for a short-term plunge. Gold as well appeared to be destined for a test of major support. The critical levels of Au 1524 and Ag 26 held and with the bad ‘jobs’ report on Friday, the metals surged upward as the market apparently believes this will quell any talk by various Fed jawbones about withdrawing QE.
All well and good, but we are in a volatile time when desperate policy is being employed against the economy’s chronic contraction, the stock market’s time window for a bear market cycle and a global financial system that is coming apart at the seams. In short, this is financial war and one wonders whether the precious metals are going to simply go on their merry way without further damage.
Continue Reading at GoldSeek.com…
2013-04-08 16:46:50
Source: http://silveristhenew.com/2013/04/08/au-ag-test-in-progress/
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