Precious Metals and Commodities Slammed today.
Have you looked at gold today? Silver? Platinum? Yeah. ExactPrice right now is showing it at $1,347.70. That’s a fall of $22.09 in the last 24hours.
Silver is down by $1.28 at $27.48.
Bears are at work. Support came in at around $1,343 for gold this morning.
Going to be interesting. The question of course is will the fall continue? In my opinion I don’t believe it will go below $1,325. Could I be wrong? Yep.
But long term I continue to think that if our government continues to raise the debt ceiling because they can’t operate otherwise. That doesn’t bode well for our currency or our country.
Of all the things I saw today there are the few that I think are a must.
LONG SHADOWS CAST OVER US ECONOMY by Jim Willie is number one in the hit parade. Go Read. Now.
The More Americans That Go On Food Stamps The More Money JP Morgan Makes – via the great source Laura Gross on Twitter @lmgross