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Anyway you look at it, last week was a very positive one for the precious metals. The big news is the upside breakout above 3.5% in the yield of 10-year T-notes. With rising commodity prices across the board, people around the world are increasingly recognizing that inflation is getting worse. Higher T-note and T-bond yields are just more evidence.
Gold
1) Long two positions from $1339.60 bought on the Comex spot gold close on February 1, 2011. Stop-out point: sell one position at an intraday stop-out point if Comex spot gold trades at $1342.00. If stopped out, then re-buy this position if the Comex spot gold price subsequently trades above $1352.00. Sell one position at an intraday stop-out point if Comex spot gold trades at $1324.00. (updated 5 February 2011)
2) Long from $1352.30 bought on the Comex spot gold close on February 3, 2011. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades at $1328.00. If stopped out, then re-buy this position on the first Comex spot price close above $1342.00. (updated 5 February 2011)
3) Buy one position on the first Comex spot gold close above $1375.00. Stop-out point: sell at an intraday stop-out point if Comex spot gold trades more than $22 below your purchase price. (updated 5 February 2011)
Silver
1) Long from $28.45 bought on February 3, 2011. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $28.68. If stopped out, then re-buy if the Comex spot price the same day trades above $28.92. (updated 5 February 2011)
2) Long from $28.91 on the February 4th London silver fix. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $28.975. If stopped out, then re-buy if the Comex spot price the same day trades above $29.05. (updated 5 February 2011)
3) Long from $29.064 on the February 4th Comex silver close. Stop-out point: sell at an intraday stop-out point if Comex spot silver trades at $28.975. If stopped out, then re-buy if the Comex spot price the same day trades above $29.15. (updated 5 February 2011) View all Trading Comments >>
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