Metals punched today.
I’ve a mess of links for you today. Which is nothing compared to the amount of tabs I had open in Chrome. Good thing I’ve a smokin fast computer.
Anyway, as I stated the precious metals got hit today. Tracking platinum was something to see. In the last twenty four hours it’s lost $44.20. Gold and silver too, suffered.
You need to read Trader Dan’s take on today’s action but this is on little nugget for you:
Weakness in the base metals as well as platinum and palladium helped pull silver lower today.
On gold be sure to check out Ed Steer’s Gold and Silver Daily, he had an inkling it was coming based on the HUI.
Eric King has a short post worth a look at as well today: Explosive Gold Catalyst.
Here are links to the other items that came across my desk today.
Also thanks to Mike who sent me this great comic strip: If More Businesses Operated Like Goldman Sachs.
Two items on inflation:
This should scare you:
States report that their public-employee pensions are underfunded by a total of $438 billion, but a more accurate accounting demonstrates that they are actually underfunded by over $3 trillion.
Related to that: Fresno California Mayor Declares “Fiscal Emergency”
We are talking about a whopping lot of debt. According to the IMF’s April Global Financial Stability Report, the seven largest Western capitalist economies and Japan (the so-called G7) now hold a public debt equal to between 110 and 120% of their combined gross domestic product. The world’s public debt is about 50% of the world’s gross product. Given the size of the G7s’ economies, their public debt constitutes a huge financial commitment for which their taxpayers now are directly responsible.
There’s also this: Growing old and going broke
Back to some straight gold related items:
Until next time.
And don’t forget that you can track in real time the price of gold, silver, and platinum with the app ExactPrice.