What do I mean by gold tide? Have you been tracking gold and silver on a daily basis? I am with the free desktop widget, ExactPrice. Doing so lately is showing what I think of, as a Floridian, as the tidal change. In other words it’s up and then it’s down. I’m seeing gold up and down like a regular tide on the Florida coast. Which means right now we are pretty much range bound and probably setting up a nice floor.
Right now we are $1,395.60. With a higher earlier today of over $1,408.00. And it’s been up and then down like a tide.
Here is probably the must read article for you today:
The contact out of London has updated King World News on the massive Asian buyers which have been accumulating both gold and silver. The London source stated, “Last week Asian buyers let the price come in to them. They were buying all day long, hitting all of the offers and they were not sending the price higher. As much as the orchestrators were hitting the bids, there were some smart buyers hitting the offers. The thinking was, I can pick up tonnage here, literally I can pick up tonnage here.”
Lear Capital: 5 Ways To Survive and Thrive During the Recession – Another really good read.
Gold-Adjusted Retail Sales (RSGLDR) and YOY Change – Worth checking out this info and chart.