Memorial Day action in the precious metals.
I had suspicion over the weekend that Memorial Day would be a good day for the gold and possibly silver, and I’m glad to see the suspicion so far has been right. Things are pretty much shut down in the USA but not the rest of the world and right now the free widget that tracks the precious metals markets around the globe 24/7, ExactPrice, is reporting gold at $1,539.10 and silver is at $38.11. Gold is definitely the stronger today in its moves.
In honor of those men and women who have secured the freedom of me to say and do what I desire to do here in America:
That said, I think this is something I noted last week but it’s something that I believe bears repeating: U.N. sees risk of crisis of confidence in dollar.
Here’s something that may get you thinking: Richard Russell – Subscribers Should Buy Silver Once Again.
China’s Gold Demand Seen Rising by 17% in 2011 <- Ed Steer’s Gold and Silver Daily from last Saturday is worth a look.
Price Controls Are Historically Disastrous <- Interesting development (Brazil and Argentina).
The Long Anticipated Rock And Hard Place Is Here And Now <- From Jim Sinclair and well worth you’re read. Here’s a snippet:
The odds are 70/30 right now that hyperinflation occurs. That takes gold over $1650.
Saturday Charts and The Sunday Night Massacre Revisited <- A worthy read from Turd Ferguson on gold and silver market manipulation.
Gold Comments <- From Trader Dan Norcini.