Gold: Bullish Mode – Ethanol a Bad Idea

Posted by Bob Hoye via

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Precious Metals

The parameters outlined in the reports of October 24th and November 8th have served us well.  The oversold ‘Springboard’ alert in Gold on October 22nd resulted in a $100 rally in the following two weeks.  The November 8th report outlined the overbought conditions in Silver and the Silver/Gold ratio with the likelihood of a ‘gold correction that should be capable of holding around the 50-day moving average’.  This Wednesday saw the gold price kiss the average at $1331.

While the nominal price of silver did recently see some signs of exponential action, the gold market continues to perform in a normal bullish mode.

….read more & view charts HERE

U.S. corn ethanol “was not a good policy” – Gore

Total U.S. ethanol subsidies reached $7.7 billion last year according to the International Energy Industry, which said biofuels worldwide received more subsidies than any other form of renewable energy.

“It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol,” said Gore, speaking at a green energy business conference in Athens sponsored by Marfin Popular Bank.

….read it all HERE