Gold | Silver | Forex online daily trend | alerts | Updates: June 3rd, 2011
Gold (XAU/USD):
- Bought (Long) gold at USD 1490/ounce (18th May 2011)
- Maintain long position for gold;
- Close position if gold spot price close below USD 1470/oz (support at 50 DMA (daily moving average)); exponential moving average preferred.
- NFP (non-farm payroll) report result on Friday., actual result lower than expected. Bearish for USD but bullish factor for gold.
Silver (XAG/USD):
- All silver positions closed.
- Stand aside awaiting new entry signal (uptrend) for silver price to close above resistance at 20 DMA (daily moving average)); exponential moving average preferred.
- Change for Silver (XAG/USD) for the past 5 years = +198%; averaging at 40% per year.
- Change for Silver (XAG/USD) for the past 1 year = + 100%; therefore, silver is over-priced at the moment.
Gold investment FAQs
Q: Should I buy gold now?
A: If the price is high, sell if you have a lot. If the price is low, buy if you have little.
Q: If the price is high or the price is trending up, should I buy?
A: Buy if you have little or buy during the dip. Sell half if you have a lot.
Q: If the price is trending down, should I sell?
Q: Keep unless you really need the cash.
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