Wednesday, March 14, 2012

Gold takes a hit today and drops $31.31 (1.87%) to $1643, Silver drops $1.26 (3.77%) to $32.15...  Looks like the traders are more interested in making money on Apple than the PM markets.  3 year daily chart of AAPL below:

A 5 year return for Gold is about 148%, a 5 year return for Apple is a whopping 595%, not bad...

The Gold Silver ratio is in a trading range after heading down from spike up in late December 2011. Support may be the 61.8 fibonacci level which is at ~47.13. This level will need to be breached for Silver to start a potential breakout above $35+.

I'll leave you with a recent interview with Ann Barnhardt, who talks about a lot of topics including the government and the laws that do not seem to apply to the the 'elites' like Jon Corzine (MFGlobal).  She is always entertaining, even if you do not agree with her on certain topics.

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