I’ve just checked the weekly charts for gold and silver. Both metals seem to be contained within a downtrend chart line when viewed on the weekly basis chart.

The daily chart downtrend was broken for gold when 1690- 1700 area was breached to the upside.

The daily chart downtrend for silver was breached to the upside when silver surpassed 30 dollars per ounce.

Here are links to the daily and weekly charts for gold and silver.

I hope the above currency trading information was of help to you.

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.

Received from the YoloHub.com and written in part by Jeff Clark

Precious metals bulls are getting all worked up over the price action in silver. Why shouldn’t they? The price of the metal is up 18% in just the past three weeks. It’s showing a 10% gain on the year. And analysts are predicting more gains to come.

All of a sudden, everyone loves silver.

I love silver, too. But I’m not buying it here. Not after what happened last week.

Last week, silver’s 50-day moving average (DMA) crossed below its 200-DMA. Technical analysts refer to this action as a “death cross,” and it is considered a bearish development. This is textbook technical analysis 101. Everybody who pays attention to charts knows this is a bad sign.

But ever since the death cross occurred, I haven’t heard anyone talk about it. Not a single soul.

To be completely honest, I’m not a big fan of following the 50- and 200-DMAs. They’re just too popular. Everyone else pays attention to them, so their use as a technical tool is diluted. I prefer to look for signals no one else is following.

But the death cross on silver’s chart is a clear bearish sign… And no one noticed it. That makes me want to pay attention.

It has been three years since the last silver death cross. In September 2008, the 50-DMA crossed below the 200-DMA… And the price of silver dropped 30% in the next two months.

If we get the same sort of action this time around, the price of silver could fall as low as $25 per ounce by the end of the year.

Please understand that I’m not predicting that severe of a decline. I just won’t be surprised if it happens. But I am suggesting that if you’re looking to buy silver, you may get a better opportunity to do so a few weeks from now.

I hope the above currency trading information was of help to you.

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.

The below info was sent to me from InsideInvestingDaily.com

When it comes to the bull market in gold, occasional volatility is part of the deal. You can’t reach a long-term destination without price declines… sometimes big ones.

But on the morning of Monday, Sept. 26, something fishy happened. The price of gold dropped a stunning $130 per ounce during Asian trading hours, before the U.S markets opened.

The yellow metal recovered from that blow, leaving a nasty spike on the overnight charts. But many wondered what such a huge move was all about.

“The break has provoked a great deal of suspicion,” says Peter Brimelow of MarketWatch. In other words: Could gold have been the victim of a hit and run?

Via Brimelow, U.K. gold dealer Ross Norman adds:

Placing such a huge order into the market when the least number of market participants were active tells you that they were out for dramatic effect. Anyone looking to offload significant amounts of metal at the best possible price would have done so when both London and New York were both [open]. … Clearly finessing gold into the market was not their motive — they wanted a statement.

Nomura, a Japanese investment bank, put out a research note explaining the connection between Asian trading hours and the price of gold. In recent weeks, Nomura says, “price action during Asian hours has become very bearish, which had not been the case in previous unwinds earlier in the year.”

This naturally leads to questions. Who has been selling? And has the outlook for gold changed?

To some extent, gold had become a victim of its own popularity. As the metal kept rising, sentiment matched that of a popular stock. GLD, the best-known gold vehicle, at one point became the largest ETF in the world. Hedge funds and other leveraged speculators were patting themselves on the back for holding it.

Then, in the aftermath of the Fed’s “Operation Twist” in late September — which might as well have been called “Operation Useless” — stocks fell hard, and gold fell alongside.

There were macro-level reasons why gold fell out of bed. The U.S. dollar displayed newfound strength, deflation fears were back, and inflation expectations had hit their lowest levels in a year.

But more than likely, the selling was just overaggressive buyers facing margin calls (with margin requirements hiked repeatedly) and shell-shocked fund managers cleaning house. Profitable gold holdings became a prime source for cash.

Says Michael Gayed, chief investment strategist of Pension Partners: “The tendency for individual hedge funds or anybody is to sell winners before they sell losers. What’s been one of the few winners this year? It’s been gold.”

Being popular isn’t always what it’s cracked up to be. The important thing moving forward, though, is where gold goes from here. Have the core reasons for holding gold been invalidated?

That’s doubtful:

*

Central banks around the world are still woefully exposed to paper currency, holding far too many dollars as a portion of reserves. (And now they are forced to wonder about their euros.)
*

The root problems of the financial crisis have not been solved. If anything they have been made worse.
*

The ultimate “solutions” to Europe boil down to post-breakup catastrophe (the destruction of the euro), a Hail Mary implementation of the printing press (via eurobonds), a mass bailout of Europe’s banks… or some combination of all three.
*

The Keynesian table-pounders — those who argue we need more stimulus, more leverage, more government debt — are as insistent as ever, and will grow even more insistent as economic conditions deteriorate.

Gold could decline further in the coming weeks as money managers liquidate. In trading desk terms, this reflects the possibility of “weak hands” being washed out. It’s hard to say how long the washing out process will take, and it could end as quickly as it began.

Ultimately, those with a keen interest in accumulating large amounts of gold at a favorable average price — such as the world’s central banks — will not be able to resist the temptation. The long-term motives are intact, and shady motives for manipulating gold lower are no match for the fundamentals.

Last but not least, as for the Asian selling, Nomura closes on a bullish note:

We think that a reversal of this trend back to gold appreciation in Asian hours is the key to a short term reversal and we have begun to see this in recent days[...] We continue to view long-term fundamentals, such as low real rates and the relative cheapness of gold when viewed from an Asian perspective, as bullish for gold.

Click here to read more from the above author…..

Anthony DiChi,
Your friend in Forex Currency Trading, FX Information and Forex News at TradeCurrencyNow

Even though gold is no longer used to back currencies like the dollar, it is still stockpiled by countries around the world. Since the price of gold has fluctuated dramatically, the holdings are expressed in metric tons (or tonne = 1000 kg) as documented by the World Gold Council in August 2011. One U.S. ton is approximately 0.9 tonnes. Here’s a look at who holds the largest gold reserves and the amount of holdings.

United States – 8,133.5
While the U.S. permanently abandoned the gold standard in 1971, it has the largest holdings of any country by a wide margin. While most of the gold is held at Fort Knox in Kentucky, gold is also held by the U.S. Mints in Philadelphia and Denver and several other locations.

Germany – 3,401.0
Germany’s central bank, the Deutsche Bundesbank in Frankfurt, is the manager of the country’s reserves. However, reports have surfaced that the bulk of Germany’s gold is in the physical custody of the New York Federal Reserve.

International Monetary Fund (IMF) – 2,846.7
The IMF overseas the economic activity of its 187 member countries around the globe.

Italy – 2,451.8
Italy’s reserves are held and managed by the Banca D’Italia. Italy is one of the PIIGS nations (along with Portugal, Ireland, Greece and Spain), all of which are suffering financial woes.

France – 2,435.4
The Banque de France is the central depository for France’s gold reserves.

China – 1,054.1
The world’s most populous country is the world’s largest producer of gold and can buy gold from its own mines without reporting those transactions publicly.

Switzerland – 1,040.1
Switzerland’s seventh place rank on this list is notable considering its economy is the 38th largest and its population is the 95th largest in the world.

Russia – 775.2
Russia’s gold reserves are in the custody of the Central Bank of the Russian Federation.

Japan – 765.2
Gold accounts for only 3.3% of Japan’s total foreign reserves which are managed by the Bank of Japan.

Netherlands – 615.5
The gold reserves and national finances are managed by the Netherland Bank.
Click here to go to the Financial Edge to view more of this story….

Anthony DiChi,
Your friend in Forex Currency Trading, FX Information and Forex News at TradeCurrencyNow

The pressure that 20th century governments experienced to sacrifice currency stability for other objectives, such as full employment, did not exist in the 19th century.

Back then, workers susceptible to unemployment when the central bank raised the discount rate had little opportunity to voice their objections, much less kick out those responsible.

Wages and prices were relatively flexible. Therefore, a shock to the balance of payments that required a reduction in domestic spending could be accommodated by a fall in prices rather than a rise in unemployment. This further diminished the pressure on the authorities to respond to employment conditions. Consequently, the central bank’s priority to maintain currency convertibility was rarely challenged.

Now we live in a world where the voters can vote themselves the goodies, and politicians maintain power by promising to dole out those goodies. Indeed, a far cry from the world during the gold standard era.

The above article is written in part by author, Jack Crooks who writes for Money and Markets.com.

Anthony DiChi,
Your friend in Forex Currency Trading, FX Information and Forex News at TradeCurrencyNow

Here we are possibly just a short time away from Libya’s “people” ousting Gaddafi and installing a new government in war torn Libya.

What happens to a nation’s assets when a takeover happens in a third world country. Well, my research indicates pretty much everything is up for grabs. Therefore; whoever can grab and hold or sell and hide the assets wins the asset grab race.

Let’s look at Libya. Strong rumors in past years were afloat that Ghaddafi had been buying as much gold as possible and as of late has a sizable sum of gold in storage. Some think that Ghaddafi was planning on starting a Muslim currency which he hoped some day would be used to trade (buy) oil.

Now we look at the price of gold. Gold is at an all time high $1,875.

Now we look at who would and could get to Ghaddafi’s gold. The same organization(s) that could help drive gold to new all time highs.

After the Gold is seized in Libya and put up for sale and sold be very careful to watch out for a price drop in the price of gold. Spot traders trading to the upside use stops.

Then again maybe all this is a coincidence.

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.

The new way to trade silver is on the Forex Market. Here you can use leverage and trade silver against many different currencies. The Forex Market offers fast in and out liquidity advantages and options.

The Traditional Methods of owning silver

Precious metals have been popular investment options for hundreds of years. The word “bullion” refers to the precious metals’ physical state and has value based on that metal’s purity and quantity. Most of today’s silver is mined mainly as the result of mining for copper and zinc as silver is commonly bonded with those metals in small quantities. Silver bullion is 99.9% pure although there may be variations.

Silver bullion comes in bars that are stamped with the name of the company that minted the bars along with the bars’ purity and weight. The bars come in sizes of 5, 25, 50 and 100 ounce bars. Silver rounds and silver bars can be purchased in 1 ounce sizes also. Although it is very seldom that investors buy silver bars heavier that the 100 ounce version, there are bars that weigh up to 1,000 ounces.

Silver coins are also available. These coins are different from silver rounds as they are produced by official mints that are federally authorized whether they are for purposes of bullion or money. Canada, the USA and some other countries produce silver coins. Buying silver coins has the advantage that the coins have historical value which makes the price higher. Silver ornaments and jewelry tend to fall into this category even though they may be rarer and have historic worth is so much higher that the coins.

There are also silver scrap and silver nuggets though these are quite rare. Most companies that manage to produce the silver scrap, gather the scrap, purify and mold the scrap into bars and sell them. Silver scrap tends to be not as pure as the silver coins or bars.

Although silver commands a price less than gold, it is a popular option for investment because they have intrinsic value. Like gold, silver’s value is determined largely by market conditions. Most of the potential of silver lies in buying the metal when the price is low and selling when the price is high just as they would stocks. Though unlike trading stocks, silver’s price rises when markets are in trouble as people tend to invest more in silver as a safer investments.

There are many places where silver is readily available. Silver is even available online. However, one needs to be very careful when buying of silver online. Quality of the silver can be difficult to guarantee in transactions online. Purity is the factor that is most important when it comes to silver bullion. It would be preferable to buy from companies or dealers that have acquired trustworthy reputations or those that have been highly recommended.

Investing in silver also has some disadvantages. Similar to investing in gold, silver does not yield any interest. The price of the silver bullion also comes with a premium so one pays higher that the bullion’s actual worth. There is also the matter of storage space as bullion tends to be bulky and rather heavy and must be kept secure. There may even be a need for an assay if the silver is to be sold.

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.

The new way to trade gold is on the Forex Market. Here you can use leverage and trade gold against many different currencies. The Forex Market offers fast in and out liquidity advantages and options.

The Traditional Methods of owning gold

Countless financial experts have always claimed that there are many benefits to be had if one invests in gold. Most feel that gold is the very best investment choice. This is especially so when we are faced with a volatile stock market and uncertain economic times.

Here are some of the fundamental reasons why it is good to invest in the “yellow metal”

1.Gold is not just a commodity, but is also a currency that has evolved over the last five thousand years in the marketplace.
2.Gold, along with silver, are the two tangible currencies that are not controlled by governments. Monetary currencies like the Japanese Yen or the US Dollar are “fiat,” this means that they are merely worth a value that was given by a government decree. They are legal tender but do not represent anything tangible.
3.Fiat currencies lose their worth or value once they are created in great amounts. This causes what is known as hyperinflation.
Gold as a Hedge Against Currencies and Inflation

Gold plays an important role as a hedge against inflation as gold appreciates. As most investors realize that their portfolios are losing value, they will naturally gravitate towards positioning their investments in hard assets that maintain their value.

Gold benefits when the US Dollar declines as gold’s price is in US Dollars in the global market. Central banks who would want to invest in gold will have to sell their US Dollars to buy gold in the world market. This practice naturally drives the dollar lower as more and more investors are letting go of their dollars in order to diversify. The declining dollar makes the yellow metal more affordable for investors holding other currencies as this naturally results in more demand from those investors who are holding stronger currencies.

Gold Used as a Safe Haven

Most investors will look for safe havens during times of economic and political uncertainty, and they naturally turn to gold. This is because history is replete with collapsed currencies, collapsed empires and even political coups. During such times, people who had held on to gold were able to survive those times. Many have even used their gold in order to escape from such problems and save themselves and their families. Even today, once there is news of uncertainty in any part of the world, most investors turn to gold as their safe haven.

Diversifying Investment with Gold

It does not matter if one is worried about declining US Dollars, inflation or protecting one’s wealth, gold has historically been an investment that adds a crucial diversifying component to any portfolio.

There are many people who consider gold as an investment that is risk-free because gold is capable of maintaining its value. Gold offers a basis for financial savings in cases of sudden increases in inflation.

However, it is also worth noting that gold, like any other investment, has disadvantages. Gold does well whenever there are economic problems but does not too good when financial times are well. Another disadvantage is that gold does not pay any dividend like shares or stock investments.

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.

People have asked “when I sell my gold gold what should I invest in”. My answer is simply secure farmland with a secure reasonable water source, near a transport corridor system but not to close to an urban center.
Yes, this is much more management intensive than holding physical gold. But, usable farmland is a safe bet moving forward and adds wide diversity to the average person’s portfolio.

Added on 12-18-11
Jim Rogers and GreenWorld BVI target agricultural land investment in Australia

Anthony DiChi at TradeCurrencyNow,
America’s Forex News and currency information source.