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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.
Message: USD Index
As noted below, the USD is banging against a resistance line that has stopped every rally over the past 6 months. Although PPT intervention could produce a short-term miracle, odds are slim that gold will be weakening much further here due to any upcoming increase in USD strength. Furthermore, such a move would be most counterintuitive especially when one considers the record supply of U.S. treasury bonds issued over the past few weeks.
Regards - VHF
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US Dollar Index Testing 50-Day Average
B.I.G.
August 18, 2009
Calling it a rally would be an exaggeration, but the US dollar index has seen a modest gain over the last several days and is currently trying to break above its 50-day moving average (DMA). Over the last six months, the 50-DMA has been acting as a steamroller for the index, rolling it over with every attempt at a rally. Given the fact that the negative correlation between the dollar and stocks is at historical extremes, a failure of the dollar to break above its 50-DMA would be a plus for stock market bulls.
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