Options Expiration was yesterday and some profit taking today.
If you were tracking silver and gold yesterday and today you can see the run and then sell off today. Though the sell off is not as strong as the run up, which in my mind seems to say there’s still strength in the bull market for these metals.
Right now the widget on my screen says silver is a healthy $37.39 and gold is $1,522.30. Gold is finding resistance at $1,525 it would seem. Silver hit resistance at $39. Yesterday was of course an option expiration day for the metals and so the action we’ve seen is not all that odd.
Here’s a great video interview that Laura Gross pointed out today: Nothing stops bankers from ripping off population again – journalist
Here’s a link to Zero Hedge which Graham Jervis pointed out, and is one more reason why paper gold and silver just ain’t where it’s at in my mind: Easy Come, Easy Go: The SLV Put Buyer’s Story Comes To A Close… With A Wash
Also pointed out by Jervis is this great article: The Truth About ‘Investing’ in Gold
KingWorldNews has this: John Hathaway – Gold & US Today vs 1980 Mania
Lear Capital Review: The Successful Failure of US Money Printing <- This quote on QE2 caught my eye:
Turns out the program has created maybe 700,000 full-time jobs – at a cost of around $850,000 each.
One man I’ve never met, but have a great deal of respect for because, after several years of reading and listening to him, I’ve discovered him to be a straight shooter and a man of integrity. That man is Peter Grandich and is post today on the dollar is worth a read: Only Above 82 Would Suggest Miracle Cure.
I had to laugh at his parting comment:
“…the Fat Lady is already warming up for America’s insane debt binge.”
Spiraling debt points to dollar free fall; ‘there won’t be anyone to bail out US’ <- I thought that was Bernanke’s and Geithner’s job?
Finally, check out this link I found on Zero Hedge via, Jonathan Chevreau: 20 Questions To Ask Anyone Foolish Enough To Believe The Economic Crisis Is Over