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Golden Minerals is a junior silver producer with a strong growth profile, listed on both the NYSE Amex and TSX.

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Message: Silver Diamond and Silence

A couple of noteworthy articles. The first is a most interesting silver chart formation and the second one involves J.B. Slear's opinion on the recent quietness in the precious metal markets.

Extremely quiet - VHF

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Silver breaks out of Diamond formation on surge in volume

Scott Pluschau

April 2, 2012

Silver had a textbook breakout from the "Diamond" pattern today on confirming volume. See left hand side 1 hour chart below. The bears have been weakened substantially in my opinion by today's bullish reversal in the face of a "Head and Shoulders" pattern on the daily chart. The path of least resistance will clearly be higher should the right shoulder get taken out. I believe great trading opportunities to the long side in silver will be coming at that time since the tip of the "head" at $37.48 should offer little resistance being a spike high instead of a more typical rounding formation. The less time it takes to form a previous high or low the weaker it is as a support or resistance level.

(Click on chart to expand)

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The Deafening Silence in Precious Metals Means Something

J.B. Slear

April 3, 2012

US$ is trading higher so far up 12.7 points in the early morning with the trade at 79.090 after breaking down to 78.795, leaving Treasuries in a weakened state with the shortest termed lower and support coming up in the outer year contracts. Energy Products went into their “war” footing again during COMEX trade in yesterday’s trade with some of that being taken back as of now leaving Crude Oil at $104.22 down $1.01 from the previous close taking the byproducts with them. Gold is getting its usual beating from Britain’s anti-gold High Frequency Trading Group with the trade standing at $1,673.60 down $6.10 and as usual, close to its low of $1,672.40. Silver is down 30.8 cents as well and for the same reasons with the trade at $32.790 guiding the rests of the metals down. Grains are mostly lower with Corn plowing higher, Softs are lower with Cotton the only exception, Meats are all trading higher, Paper Markets are still trading in the Red in this earliest morning read on the markets. The plan seems to be that the metals market will remain in control till the last ounce of metal is drained from the banks, only a few are allowed to know the actual timing of this charade, but it seems to be not long from now on. Have you noticed the deafening silence in the media …. Stay Strong!!!

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Apr 03, 2012 03:27PM
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