Silver and Gold Market Update

June 10, 2009 - Email Alert Sent 11:20 AM New York Time

Dear Investors:

          The correction in gold and silver continues to develop. Technically, I expect further downside in both metals. Gold appears to have failed for the third day to break through overhead resistance at $960. If the $950 support fails, which is possible today, then gold may go as low as $915-$920 (near the 50 day moving average) to find support. Silver also, if it breaks through $14.80, will likely test the 50 dma $13.60-$13.75 area. Best wishes on your future and investing.

God Bless,

Timothy Silvers

 

Disclaimer: This article represents the opinions and personal views of Timothy Silvers and is not intended to be investment advice. If you choose to use this analysis for your personal trading, Timothy Silvers assumes no liability for the direct or indirect losses you may incur due to using this article to make your investment decisions. You are totally and completely responsible for your own investments. At any given time, Timothy Silvers or his friends and relatives may have positions in silver related investments that may or may not follow the recommendations contained in this article. The information in this article may not be completely correct and accurate. Even though Timothy Silvers has done his best to review the content and accuracy of this article, he is in no way liable or responsible for any mistakes or omissions.