Trading silver, gold and platinum- a checklist

icl77

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Hi,

I know a little about the markets (not a massive deal, but more than a notive) and i am interested in making money from this hobby via gold and silver. Before I begin "trading" (either spread betting, mining stocks or bullionvault) I wanted to try and increase my knowledge to minimize the money I could lose/improve my chances of doing well.

My question is, besides learning about the specific gold and silver markets- what else should one look know? This is what I have come up with so far

-EUR/USD (gold and silver and prices in dollars, so need to know how strong the dollar is)
-Oil? Silver is an industrial metal, therefore it will increase when the economy increases? On the other hand silver correlates with gold strongly and gold is negatively correlated to oil- so I must admit I am a little confused here...

-I presume I don't need to learn anything about credit or bonds.

-Equities: look at the individual mining companies, look at their management, balance sheets, try to work out a value for them etc.

-Linked to above, look at geopolitics with respect to locations of mining operation environment (Argentina nationalizing etc)

-Forex- as previously mentioned I presume only thing worth studying is EUR/USD?

Ps any good commodity books would be welcome- I have a few from amazon but any recommendations are welcome!
 
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