Precious metals quietly climb.
This is proving to be quite the strong week for gold and silver, platinum too. Right now as I type, ExactPrice is show gold at $1,439.70. It’s been above that crossing $1,440. Silver has tried to get to $35 and right now is coming up $34.90. Platinum is at $1,863.00.
What’s driving it all? Well, one is the seasonal factors. Two, the Middle East unrest. Three the dollar is getting trounced. Four Bernanke is on the Hill trying to convince the Congressman to allow the debt ceiling to be wedged higher. My question there is how high can you restructure a ceiling until the structure comes apart and falls on the occupants?
I know, I know. You’re thinking, “It’s a virtual house, stupid.” Exactly, and that’s what the currency is too.
I’ve got a number of links for you to consider.
USA Incorporated – a Look at the Grim Financial Situation of the USA <- some interesting graphs
China Purchases 200 Tonnes of gold in 2011 <- Ed Steer’s Gold and Silver Daily is a great read today.
Phases of Secret Gold Policy <- Take a moment and chew on it.
Not enough metal to put dollar back on gold, Bernanke says <- Does he even understand what he’s admitting about the amount of Fiat currency out there? Obviously he doesn’t understand gold.
Rick Rule – Upside Blowout in Gold, Destabilization in Silver <- King World News should be a daily stop for you.
Don’t Believe The Hype <- the hype coming from Bernanke
Jim’s Mailbox <- is worth a look today.
Gold Daily and Silver Weekly Charts – Emperor Agonistes <- From Jesse’s Cafe Americain. Good read.
Dolphins save Doberman Pinscher stranded on sandbar <- Nothing to do with gold or silver but, wow, what a story.