Golden Minerals Company

The latest charts from last week and the ones likely to be support as we enter the final phase of trading for 2010.

Cheers - VHF

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Gold gained $50.60 U.S. per ounce (3.7%) last week thanks mainly to weakness in the U.S. Dollar. It recently bounced from its 15 day moving average. It is testing resistance at its all time high at 1,424.40. Short term momentum indicators are trending higher.

The Philadelphia Gold Index gained 15.48 points (7.4%) last week. Strength relative to gold remains positive. The Index recently bounced from its 50 day moving average.

Silver gained $2.60 (9.7%) last week. It touched a thirty year high on Friday. Strength relative to gold remains positive. Short term momentum indicators are trending higher.

Platinum gained $80.00 per ounce (4.9%) last week. Nice bounce from near its 200 day moving average. Momentum indicators are recovering from oversold levels. Strength relative to gold turned positive last week.

The CRB Index gained 15.03 points (5.0%) last week in response to weakness in the U.S. Dollar and news of a better than expected improvement by China’s Purchasing Managers Index. The CRB recently bounced from its 50 day moving average and is testing resistance at 320.38. Intermediate trend remains up. Short term momentum indicators continue to recover and have reached an overbought level. However, signs of a short term peak have yet to appear.

Copper added $0.24 cents (6.3%) last week on declining world inventories.

Crude oil added $5.49 per barrel (6.6%) last week. Intermediate trend remains up. On Friday, crude oil broke above resistance at $88.84 to reach a two year high. Short term momentum indicators are overbought, but have yet to show signs of peaking.

Gasoline added another $0.18 cents (8.3%) last week. Short term momentum indicators are overbought, but have yet to show signs of peaking.

Natural Gas slipped $0.05 (1.1%) last week. Short term momentum indicators are overbought and showing signs of rolling over.

The U.S. Dollar fell 0.97 last week. The Index found resistance at 81.44. Short term momentum indicators are rolling over. RSI and Stochastics recorded short term sell signals on Friday. MACD is close to a negative cross over from an overbought level. Support is at 75.63. Intermediate trend remains down. ‘Tis the season for the U.S. Dollar to move lower!

Conversely, the Euro gained 1.74 last week. The Euro bounced from near its 50 day moving average. Intermediate trend remains up. Resistance is at 142.81. Stochastics and RSI recorded short term buy signals on Friday. MACD is close to completing a positive cross over from a short term oversold level. ‘Tis the season for the Euro to move higher!

The Canadian Dollar gained 1.63 U.S. cents last week. It bounced from near its 200 day moving average. Resistance is at 100.18. Short term momentum indicators are recovering from oversold levels.

The S&P 500 Index increased 35.31 points (2.97%) last week. Intermediate trend remains up. The Index currently is testing resistance at 1,227.08. The Index recently bounced from near its 50 day moving average. MACD and RSI are recovering from neutral levels. Stochastics already have recovered to an overbought level, but have yet to show signs of peaking. A break above resistance implies short term upside potential to 1,285.

The Dow Jones Industrial Average added 290.09 points (2.62%) last week. Intermediate trend remains up. The Average recently bounced from near its 50 day moving average. Resistance is at 11,451.53. Short term upside potential on a break above resistance is to 12,000. MACD and RSI have recovered from a neutral level. Stochastics have recovered to an overbought level, but have yet to show signs of peaking. Strength relative to the S&P 500 Index remains negative.

The TSX Composite Index gained 286.24 points (2.22%) last week. Intermediate trend is up. The Index recently bounced from near its 50 day moving average. MACD, RSI and Stochastics have recovered and already are short term overbought. However, they have yet to show signs of peaking. The Index broke above resistance last Wednesday on higher than average volume to reach a two year high. The break above resistance implies short term upside potential to 13,750. Strength relative to the S&P 500 Index remains neutral.

The yield on 10 year Treasuries added another 15 basis points last week. Short term momentum indicators remain overbought. Yield is testing its 200 day moving average.

Conversely, long term Treasury prices found resistance at 98.93 and lost $2.18 last week. Short term momentum indicators are overbought and trending lower.

The Baltic Dry Index was virtually unchanged last week.

The VIX Index fell 4.21% (19.0%) last week. The Index broke support on Friday to reach an eight month low.