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Scooped by Hal onto Gold and What Moves it. |
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In simplest terms, the upside resistance barrier exists from $1,680 to $1,700 while the downside support level trades from $1,630 to $1,640.
Starting with the upside chart-based resistance, we note the falling 50d EMA at $1,685 and the upper Daily Bollinger Band at $1,697.
Beyond that, we can easily see a price-based resistance high (the most recent swing high) at the $1,700 “Round Number” level.
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http://usawatchdog.com/bernanke-playing-with-fire-laurence-kotlikoff/ - Economist Laurence Kotlikoff says, "We are actually in worse shape than any developed country. . . We are using accounting that would make Bernie Madoff blush." Kotlikoff thinks the Federal Reserve could easily lose complete control of inflation and warns, "Ben Bernanke is playing with fire here because we could have a tripling of the price level." Join Greg Hunter as he goes One-on-One with Boston University Economics Professor Laurence Kotlikoff.
Hal's insight:
Good Interview. Hat tip to www.jsmineset.com Delete the scoop?
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Confusion and uncertainty will remerge [sic] as the headlines focus on the debt ceiling debate over the coming weeks.
Hal's insight:
Click over for the rest. Eric makes reference to a formula that Jim Sinclair created that details how raising taxes reduces economic growth. Delete the scoop?
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Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax.
NEW DELHI(BullionStreet): Indian government's efforts to control gold imports and the overall hunger for gold by majority of it's population suffered a setback as imports surged on the first week of this year.
Traders have imported between 25-30 metric tons in the past one week compared to five to seven metric tons in the previous few weeks, said Prithviraj Kothari, managing director of Ridhi Sidhi Bullion Ltd.
Analysts attributed the sudden rise in gold imports to brisk buying by traders as they rushed to place orders ahead of an expected rise in the import tax. ... Delete the scoop?
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