The Bank of China’s latest announcement that their total gold holdings in April 2009 were 1,054 tonnes might signal that they could use it as a weapon in the currency wars. Rumor has it China already is at 5,000 tonnes but keeping that information low key.
Gold
On a weekly basis, could target 1,400, moving above 1,350; Support is at 1,290 level.
It will start the trading week by going down.
Silver
The Weekly chart points towards 21.50. Support is at 19.65.
It might start the trading week by going down.
USD/TRY
On the weekly chart, look for it to go down to 1.8845, moving below 1.9230. Resistance is at 1.9330.
The Turkish currency will start the trading week by going up.
Disclaimer: This article is not an investment recommendation. Any analysis presented in this article is not meant to be relied upon for solely investment decisions. Please consult a qualified investment advisor. The information upon which this material is based was obtained from sources believed to be reliable, but has not been independently verified. Therefore, the author cannot guarantee its accuracy. Any opinions or estimates constitute the author's best judgment as of the date of publication, and are subject to change without notice.
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Weekly Gold, Silver & USDTRY Analysis
Published 07/29/2013, 06:05 AM
Updated 07/09/2023, 06:31 AM
Weekly Gold, Silver & USDTRY Analysis
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