In the precious metals market this week

In the precious metals markets this week . . . GOLD: spot gold prices opened the week at $1,162 . . . traded as high as $1,165 on Monday and as low as $1,130 on Friday . . . and the AM settlement price on Friday was $1,136, down $26 for the week. Gold support is now anticipated at $1,127, then $1,114, and then $1,089 . . . with resistance anticipated at $1,146, then $1,164, and then $1,191. SILVER: spot silver prices opened the week at $18.42 . . . traded as high as $18.51 on Thursday and as low as $17.63 on Friday . . . and the AM settlement price on Friday was $17.68, down $.74 for the week. Silver support is now anticipated at $17.64, then $17.33, and then $16.91 . . . and resistance anticipated at $17.72, then $17.97, and then $18.24. PLATINUM: spot platinum prices opened the week at $1,726 . . . traded as high as $1,736 on Monday and as low as $1,690 on Friday . . . and the AM settlement price on Friday was $1,690, down $36 for the week. Platinum support is now anticipated at $1,685, then $1,641, and then $1,579 . . . and resistance anticipated at $1,697, then $1,724, and then $1,745. PALLADIUM: spot palladium prices opened the week at $515 . . . traded as high as $549 on Wednesday and Thursday and as low as $514 on Monday and Tuesday . . . and the AM settlement price on Friday was $529, up $14 for the week. Palladium support is now anticipated at $524, then $509, and then $477 . . . and resistance anticipated at $548, then $563, and then $585. QUOTES OF THE WEEK: From Mary Anne and Pamela Aden, in the April issue of The Aden Forecast newsletter, received this week: ''Gold is in a league of its own. This means gold should always be a part of your portfolio because it's quietly becoming the world's second reserve currency, better than the euro and the dollar. Gold's been decoupling from the dollar. It's been steady to up for the last two months while the dollar has been rising. Central banks have been adding gold to their reserves in recent years. Last year they added the largest amount of reserves since 1964, with Russia, India and China among the top accumulators in 2009. Central banks now possess 18% of all of the gold ever mined, and this percentage is growing. The World Gold Council predicts China's gold consumption will double in the next decade. China is known for its keen interest in gold, and their demand is currently greater than their domestic mine production. Investors worldwide are slowly moving toward gold but it's still early.'' . . . and from Barry Sergeant, in a posting on Mineweb.com on April 16th: ''Wall Street investment bank Goldman Sachs, thought by so many to be a major force behind the hellfire that engulfed global financial markets during 2008, has been charged by the US Securities and Exchange Commission (SEC) with fraud, in a case that involves US hedge fund Paulson & Co., which spent heavily on gold investments starting latest during early 2009. The charges relate to a synthetic collateralized debt obligation (CDO) that hinged on the performance of subprime residential mortgage-backed securities (RMBS), the instruments at the heart of the meltdown in US financial markets that set in as early as October 2007. In March 2008 Wall Street investment bank Bear Stearns went down the drain pipe, and in September 2008, Wall Street veteran blue blood member Lehman Bros. went straight to the cemetery. While other banks scrambled to survive, Goldman Sachs just rumbled on. US journalist Max Taibbi has described Goldman Sachs as 'the world's most powerful investment bank,' and as 'a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.' The SEC allegations go to Goldman's dark underbelly, and could well be the first in many cases aimed at attacking the systemically bent and twisted practices that almost wrecked Wall Street into terminal disgrace and decline. The SEC alleges that one of the world's largest hedge funds, Paulson & Co., paid Goldman Sachs to structure a transaction in which Paulson & Co. could take short positions against mortgage securities chosen by Paulson & Co., based on a belief that the securities would experience credit events.'' . . . and from veteran gold market expert Jim Sinclair, in comments posted on his JSMineSet.com website on April 16th: ''If you think that Goldman's problems are not shared by the entire derivative market, you are bonkers. If you see the Goldman situation as negative to gold you are a total fool. If you see the Goldman situation as being bullish to the dollar, you are hopeless.'' . . . and from Richard Russell, editor of Dow Theory Letters, in remarks posted on his website on April 12th: ''Ever since 1913 when secret banking interests succeeded in convincing an abbreviated Congress to pass the Federal Reserve Act, Americans have been brain-washed into believing that Fed-created fiat money was worth something. It was worse than that. At the same time, Americans were brain-washed into believing that gold was an out-dated 'relic of the past.' But to no avail. I've written that the lust for gold is written into the DNA of mankind. Now like a mythical creature rising from the deep, the desire for gold is reviving. And I'm wondering whether our Fed chairman will ever mention the word 'gold.' Ben Bernanke may be our current expert on the Great Depression, but I've yet to hear him discuss or even mention real Constitutional money, gold.''

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