Santacruz Silver Mining reports fatality at Tres Amigos mine in Bolivia
Tres Amigos mine, a part of the Caballo Blanco Group of mines, has resumed operations after it was shut down following the incident.
After nearly 18 months of ebbing and flowing between $1,000 and $1,250 the gold price has broken up to a new record high. We have answered the question of how high will it go in a Market Alert sent out to Subscribers.
You are welcome to receive our forecast by subscribing to the newsletter we issue on a weekly basis. As this a mid-trend breakout we do recommend that you subscribe, after all you need far more than just a target price for gold. To benefit the most you need to not just know the whole picture of gold but be able to understand and weigh these factors so as to act professionally in the gold market. Those experts who thought gold had peaked now know this to their cost.
This morning London Fixed the gold price at $1,270.40. We strongly recommend that, to ensure you get the full picture we offer to you, subscribe through: – www.SilverForecaster.com or www.GoldForecaster.com to our newsletters.
This morning the Japanese government began intervening in the foreign exchanges to lower the $: Yen rate of exchange. It has moved from Yen 82.87 to Yen 85.50 against the U.S. Dollar. This is folly, we believe.
We are developing the theme of the last article [Subscribers can access our archives] on “Developed World Demand & Supply of Gold” in the current issue of the Gold Forecaster, and writing “Will the Chinese Yuan rise – what of Chinese Gold Investors?” and “Will the Silver price de-couple from Gold” These will not be issued in full as short articles, if at all, to gold sites in general. To read these important pieces and to find out our preferences and for our full range of weekly forecasts please subscribe through: – www.SilverForecaster.com or www.GoldForecaster.com for our weekly newsletters.
Gold – Very Short-term
Gold is up and away from resistance having won the battle of $1,260 Resistance is now support for the gold and silver prices. We do expect New York to hold these levels or take them higher today.
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Silver – Very Short-term
Silver was fixed at $20.45. We expect another positive day for silver.
Gold Price Drivers
The gold and silver markets move like waves on the sea shore. Short-term moves are the daily moves that ebb and flow constantly. The tides are mid, beginning and end of trend moves and the currents are changes in Trends themselves. What we are witnessing now is a change of tide, where after 18 months of moving in a 20% range gold has moved into new territory. For all gold & silver investors out there, now is the time to fully understand the importance of this for your own sake. It is simply not enough to give you a price target. In such a market, those who do not understand what’s going on will not maximize either opportunities or profits.
We sent out a market Alert yesterday that gave our target for the gold price and have persistently targeted a certain silver price. Our Market Alerts have been accurate both on the tops and bottoms and if followed our Subscribers would have maximized profits.
In a move reminiscent of the seventies, Japan’s exchange rate intervention will attract speculators taking positions against the falling Yen. The Bundesbank used to say it was not going to revalue the Deutschmark and was forced to do so each time. We expect the Yen to face a similar challenge now. If the B. of Japan fails, there will be a major currency crisis in Japan. Expect Japanese gold buying meanwhile.
Regards,
Julian D.W. Phillips
