RE:Mortgage Apps Plunge At Fastest Rate In 3 Yrsthis applies to RY in what way? As this is an American interpretation of the US housing market.
Don’t hold out for a return of silver and gold prices
The
six-month chart for silver (much like the six-month chart for gold) is bereft of positive signals. There is an established downtrend line, a death cross that formed in late February, and no indications from the MACD or the RSI that a buy would be prudent at this time.
The three-year chart for silver exhibits the same patterns as the three-year chart for gold. A move off support at $27.50 in August of 2012 to a 52-week high of $35.44 on Oct. 1, 2012, followed by aggressive selling. The best case scenario in this instance could be a bounce off support in the $18.00 range.
Gold, silver pounded - and further downside appears imminent
Comex gold and silver futures prices ended the U.S. day session sharply lower after hitting 2.5-year lows and setting new daily lows in late trading.
Fresh, serious technical damage was inflicted in the gold and silver markets Thursday, to suggest they will see still more selling pressure in the coming weeks. Comex August gold last traded down $90, or nearly 7 per cent, at $1,284.00 an ounce. The August contract traded down to a low of $1,281.60 in late trading. Spot gold was last quoted down $65.50 at $1,286.25. July Comex silver last traded down $1.818 at $19.80 an ounce. July silver hit a low of $19.64 in overnight trading.
Oh my mistake this is the board for the Royal Bank of Canada, my regrets for posting matters that have no bearing on RY.