Precious Metals off to a good start this week.
Good Monday afternoon to you. The opening of the Asian market took gold up but really hasn’t looked back yet. There was a sell down but that didn’t bring it back to the close of Friday. Once it got down to around $1,859 area it bounced back up to 1890. Right now ExactPrice is reporting the spot price at $1,885.50. Silver is doing nicely at $43.33 and platinum is at $1,909.00.
Being options expiration week things will likely be rather interesting, so keep your eye on it.
Should $5,000 gold be on the radar now? Absolutely! There seems to be no depths to which the currencies of the world can’t sink. Hence, higher gold prices. As Ron Paul says, “it’s not how high Gold can go but how low the dollar can go.” Add in the fact that there is still less than 2% of investment assets of the world invested into gold and you see how much potential there is for gold to rise. A shift of just 2 more percentage points of assets into gold or precious metals could skyrocket the gold price in a very short period of time.
I’m stealing these next too links from Peter Grandich.
Bad News <- Economic data isn’t looking that great.
Utah Rep Leads 11 US States to Recognize Gold as Money <- This is something that is getting some steam.
Gold to Crude Oil Ratio indicates profitability of Gold miners <- Interesting. Something to eye.
Gold in ‘panic mode’ and could be due for healthy pullback <- expecting that this week. Time will tell.
Asia taking the lead in pushing gold price upwards <- Not much of a surprise.
Things that make you go … holy —-!” (Anybody seen our gold?) <- think Chavez.
The US Deficit In One Picture <- worth a look.
That’s the links I’ve got for you today.
Have at it 😉