Spot Chart | Silver & Gold Looking Bearish | Uncommon Wisdom Daily | News2Gold

Spot Chart | Silver & <b>Gold</b> Looking Bearish | Uncommon Wisdom Daily | News2Gold

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Silver & <b>Gold</b> Looking Bearish | Uncommon Wisdom Daily Posted: 04 Jun 2014 05:30 AM PDT General Dan Hassey | June 4, 2014 This week I'll give you my updated thoughts on gold and silver bullion. Bottom line: Neither looks bullish now. Gold The Ukrainian crisis has improved, with Russia stating they will honor Ukraine's desire to remain independent — except for Crimea, which Russia firmly intends to keep. Nevertheless, gold and silver weakened as fears of a longer crisis subsided. Tensions and uncertainty remain between the two countries. More problems could certainly erupt if either side strays from the current truce. Here is the latest weekly gold chart. Here's what I see in the chart: Gold has been stuck in a trading range for about a year now. Support is around $1,200, and resistance is around $1,400. Gold is about the same price it was a year ago. Gold has a bearish declining top line. This indicates participants are selling the rallies. Gold made a bottom in June 2013 on heavy selling volume. Gold made a double-bottom last December on buying volume, a good bullish sign back then. Sure enough, gold staged a nice rally off the bottom. Gold may test the trading range's bottom again, and if it holds we could get another rally. If it doesn't hold, look for a major sell signal. Silver is looking weak. Will silver follow gold? Silver Here is the latest weekly silver chart. Let's review the chart: The bearish declining top line dominates the current trend. Silver prices are current testing support in the $19 area. Volume is similar to the gold chart, with heavy selling on the first bottom and buying on the second. The last two weekly bars reflect a fight between the bulls and bears. Because the overall pattern is bearish, the bears may win. The all-in production cost for silver is about $16, so that will probably be the next support level if the bears prevail. Neither gold nor silver will stay weak forever, but neither looks bullish right now. Be very careful before you make any new investments in either metal. Sincerely, Dan Hassey P.S. A natural-resource company in Australia is set to collect a windfall payment equal to three years of profit by year-end, which could send its stock soaring. Find out how you can get Tony Sagami's special report about this small, power-packed stock delivered to your inbox instantly — just click here now. Dan Hassey is the Senior Stock Analyst for James DiGeorgia's Gold and Energy Investor newsletter and his Superstock Investor service.

<b>Gold</b> Scents: <b>CHART</b> OF THE DAY Posted: 04 Jun 2014 06:00 PM PDT Investing in the financial markets can involve considerable risk. Past performance is not necessarily an indication of future performance. The information included in Gold Scents and The Gold Scents subscribers daily updates is prepared for educational purposes and is not a solicitation, or an offer to buy or sell any security or use any particular system. Information is based on historical research using data believed to be reliable, but there is no guarantee as to its accuracy. G.D.S L.L.C., do not represent themselves as acting in the position of an investment adviser or investment manager for funds that are not under their direct control and fiduciary responsibility. GDS L.L.C., will not provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio or securities, transaction, investment strategy or other matter. From time to time, GDS L.L.C., may hold positions in securities mentioned, but are under no obligation to hold such position.

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