All those crazy panicking old guys buying bullets and silver are going to disappointed.
The technical postures for gold and silver are overall bullish, which continues to invite trader and investor demand.
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One important thing to remember is that the prices of gold and silver are not related to industrial demand.
Both gold and silver are experiencing some consolidation on the daily charts following more active trading earlier this week.
Non-commercials in silver are net-long 25, 804 contracts, sharp fall from the week prior.
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Once again gold and silver are seeing short covering and bargain hunting buying interest following the recent dip in prices.
If the dollar index continues to trend higher, gains in gold and silver are likely to continue to be limited.
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Tiny particles of silver are coated with organic molecules so that they float, and are then added to silicone oil.
The technical postures for both gold and silver are also fully bullish.
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Both and silver are still locked in trading ranges, as they did not get much of a lift from the sell-off in stocks.
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Any dips are probably meant to be bought as the price forecasts for both gold and silver are well ahead of where both currently trade.
Both gold and silver are seeing some mild profit-taking pressure and some chart consolidation following recent solid gains that have seen prices hit multi-month highs.
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Although silver saw similar action as gold in both the CFTC data and price movement, Commerzbank said the latest price gains in silver are premature.
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The people that are in silver are absolutely batty about it.
Silver Wheaton and Pan American Silver are both up 7% in the past four days and the gold miners in the GDX are up 5.7%.
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The fundamentals for gold and silver are better than ever today.
While gold and silver are close to their peaks, it is true that crude oil is still selling at a 30-40% discount from its peak in 2008.
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Physical sales for silver are strong and are offering a bit of a floor, but analysts at Barclays Capital said any upward momentum is difficult for the metal.
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Many French horns, for example, are made of nickel silver, an alloy of copper, zinc, and nickel (it's silver in name and color only), and some are made of nickel bronze, an alloy of copper, tin, and nickel. (Brass itself is an alloy of copper and zinc.) Many brass instruments are silver-plated (sterling silver on brass), and some are gold-plated.
The gold fixings are done by five banks that are market-making members of the LBMA, while the silver fixings are done by three.
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However, silver prices are still in a seven-month-old downtrend on the daily bar chart.
While silver bears are still in overall technical control, the bulls have gained upside momentum recently.
Because silver supplies are tighter, its absence could have a limited impact, he said.
Silver prices are also closed at a technically bullish weekly high close on Friday.
Despite the very small net-long position for speculators, silver prices are holding up, said Commerzbank.
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Silver bulls are in strong near-term technical command and gained fresh upside momentum Thursday.
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December silver futures are also hovering just below a seven-month high hit on Monday.
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Two silver containers are impaled in its skull, one for cigars, one for snuff.
The silver bulls are on a level near-term technical playing field with the bears.
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