Gold | Silver | Forex online daily trend | alerts | Updates: June 3rd, 2011
- 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.
- 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.