Forum Archive Index - April 2004

["Baa Baa" <baa_baa@hotmail.com>]

US$ price of gold closed the month over $420. This is significant for many 
of the permabears, indicating (finally) that the secular bull has locked in. 
Elliottwave sources are watching $430-432 to renege on their bearish views. 
NZPOG has a minor trendline breakout but as long as the NZD is in lockstep 
with the USD, this will dampen NZPOG prices. Of course it's all still 
tightly related to the USD, which people can see took a dive overnight.

Similar story for USPOS putting on a fireworks show this month closing over 
$US7.90 up significantly in the past few months. Even NZPOS has soared into 
life as the forex effect hasn't eroded gains quite as much. For example, 
Kiwi coin shops holding 33gm proof (92.5%) silver collectables, some of the 
less desirable mints/patterns are selling for a tiny premium over spot, 
where only 6 months ago they were double spot, or more of course if actually 
numismatic too. Just an observation.

Finally, my fav chart, the Gold:Silver ratio. 
http://stockcharts.com/def/servlet/SC.web?c=$GOLD:$SILVER,uu[w,a]daclyyay[de][pb5!c14][vc60][iut!Lb14!La12,26,9]&pref=G

best to all

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