asia and the metals - V Day

Good morning folks, and Happy Valentine's Day!!!

Well, a little better news today than yesterday. Asia had a very good
session and gold, while it dropped yesterday, seems to have held
support.

Japan recovered gaining 1.93%, HongKong rose .71%, Korea was up .56%,
Taiwan +.77% and China gained .52%. Only India dropped .85%. This is
basically a mirror image of yesterday.

On the metals front, gold is sitting at 540.80 +2, silver at 9.22 +.14,
platinim at 1002 -4 and palladium is 274 +3. XAU closed at 135.10
-3.56.

Several folks have mentioned 537 as the first line of support for gold
with 520-25, 500 and 460 lines further down the curve - 460 being the
strongest. Yesterday we either touched or got real close to the 537
line so it'll be curious to see how we do today. Does it hit and bounce
again, does it break, etc.?

I've attached a nice article from a goldbug from over at Kitco.

Let's all have a great day.

peace,

rono

Re: asia and the metals - V Day

Got stopped out of my short on GLD this moring, thank goodness for trailing
stops...
"rono" <> wrote in message
news:
> Good morning folks, and Happy Valentine's Day!!!
>
> Well, a little better news today than yesterday. Asia had a very good
> session and gold, while it dropped yesterday, seems to have held
> support.
>
> Japan recovered gaining 1.93%, HongKong rose .71%, Korea was up .56%,
> Taiwan +.77% and China gained .52%. Only India dropped .85%. This is
> basically a mirror image of yesterday.
>
> On the metals front, gold is sitting at 540.80 +2, silver at 9.22 +.14,
> platinim at 1002 -4 and palladium is 274 +3. XAU closed at 135.10
> -3.56.
>
> Several folks have mentioned 537 as the first line of support for gold
> with 520-25, 500 and 460 lines further down the curve - 460 being the
> strongest. Yesterday we either touched or got real close to the 537
> line so it'll be curious to see how we do today. Does it hit and bounce
> again, does it break, etc.?
>
> I've attached a nice article from a goldbug from over at Kitco.
>
> Let's all have a great day.
>
> peace,
>
> rono
>
>
>