"Gold closed up 60 cents to $1578.60 gaining all the ground it lost in the access
market. Silver gained 9 cents to $28.79. Today was a slow day in news. The
real exciting news is the high OI in silver. The longs in silver are basically
impervious to pain. They refused to buckle under the massive' not for profit'
supply of non backed precious metals paper. The pound continues to buckle and
remains in the 1.52 column while the Japanese yen again comes close to to 94
level to the dollar. In Europe France's manufacturing PMI continues to remain in
the doldrums and this was followed by a poor service PMI. The entire Europe's
PMI remains weak with Germany the only country above water.
In the USA
jobless claims again rise. Wal- Mart reported their quarterly report but most
investors were interested in what happened in February. The company suggested
that due to the increase in payroll taxes, investors just had no extra money to
spend and thus sales "fell off the cliff"
To confirm the above, the Philly
Manufacturing index plummeted from -5.8 to -12.5..."
at http://harveyorgan.blogspot.com/2013/02/gold-and-silver-reboundsilver-oi.html
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