Silver Prices Update 18 August 2010
By Bob Kirtley
18 August 2010
We kick off with a light hearted review of silver taking a quick look at the chart for silver prices where we can see that they have been consolidating nicely over the last three months or so. The technical indicators are more or less in the middle of their respective ranges and as so have room to move higher. As we see it this current set up bodes well for silver to make some real progress from now through until January 2011.
The economic landscape, in general terms, does not appear to be too healthy as the trillion dollar stimulus packages already unleashed by various governments across the globe have done very little to boost the economies any country. So we now have a follow up jab to make sure that the patient doesn’t die in the operating theater in the form of the QE2 LITE. Whats the QE2 LITE you ask? Is it a new lite beer to try and dampen the fervor of rambunctious ice hockey fans? No its not. Is it a smaller version of that wonderful ship that is regarded as a master piece of marine engineering? No, wrong again. Its the printing presses going full tilt and producing dollars out of thin air once again. The Federal Reserve are pursuing the only answer they know with the creation of cash from nowhere which will eventually lead to a massive dose of inflation. But you knew that as the decade long rise in gold prices has been telling us so.
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