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November 10, 2010 / Hal (GT)

Gold action today.


Have you been tracking the precious metals this week? Watch it in real time on your web enabled mobile device or your desktop with the app, ExactPrice. Right now the spot price of gold is $1,402.90. Silver is #27.13.

The biggest news was the hit the metals took yesterday with the CME announced the margin price changes. Market reacted viscerally I think. Today, I think people have their heads back on and realize that little has changed, problems are the same and it was little more than validation to the manipulation and fear. They aren’t regaining their highs yet but are retrenching right now I think. So I still feel that we have a ways to go on the upside.

Here’s a list of links that I found that I think are worth considering.

Germany Unwittingly Adopts A Silver Standard Due to Soaring Price

Record Gold, Rising Food Costs May Mean Inflation: Chart of the Day

World Bank chief elaborates: Gold is the ‘elephant in the room’

Silver expected to outshine gold after Indian festival season

COMEX margin cost changes cause silver and gold to dive before recovery in Europe

Jim Rickards – Three’s Company, Silver Margin Change

CME Group Announces Money and Margin Requirement Increases

Where are the Gold Permabears?

Food Price Fears As US Warns On Crop Yields

Hmm.. Gold up a bit more since I began. Now $1,404.50.

Until next time.

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