Gold breaks through key resistance levels and Euro delivers breakthrough solution?
A solution? Yeah, right. Sure. May I ask where the money is coming from for this so called solution? It’s almost like a gambling addict – I just need to play it and hit the big numbers which will fall out of the sky so I can live high and dry.
I don’t think it works that way.
Apparently gold doesn’t think that is the way it works either as on this news it has gone through the $1,720 resistance level and right now the ExactPrice widget on my desktop is showing $1,729.40 as the spot price. Silver is looking pretty good too with a spot of $34.39.
What continues to surprise me is that platinum has been lagging gold now for a long while now. That is very curious to me and I can’t help but wonder if this continues if it signals the launching of gold into the stratosphere. Certainly others wiser than I are looking at the correlation. Check out the two charts I’ve included here that compares the performance of gold and platinum. The first chart is from January 2011 to now. The second looks way back to 1999. Notice the areas where gold out performs platinum. This latest is a break out in my mind. Draw you’re own conclusions but feel free to share them with me.
Bossi Italian Women & the Euro!! <- interesting read on Italy and problems there.
Robin Griffiths – Here is the Reason Gold Spiked $75 in 2 Days <- India and Jewelry.
The Best Mistake You’ll Ever Make <- This is a conversation on gold worth reading.
Ed Steer’s Gold & Silver Daily <- Check it out for a pic of the world’s largest gold coin.
S. Africa’s unemployed youths demand 60% of mines <- Unrest continues around the globe I guess.
Hands off Germany’s gold – Bild <- Someone doesn’t want Germany to use their gold for Euro bailout. I wonder why not? 😉
The resurrection of gold – to resume long upward march <- Anyone else wondering just when it was that gold died that it now is getting a resurrection? I’ve looked at the chart and I don’t see death there.
Gold to Retest Highs? <- Expected Returns is always a quality read in my opinion.
Chris Powell: Nine blows against the gold price suppression scheme: A must read from GATA.
Why is the gold market manipulated by Western central banks?
It’s because gold is a weapon more powerful than nuclear weapons — an alternative currency that is not necessarily under any government’s power, a determinant of the value of other currencies, interest rates, government bonds, and equities.
China’s gold frenzy gives birth to small bourses <- Another good piece on GATA’s site.
TSA Gets Wise To Precious Metals Owners <- Police state coming? Or is it here?
Well, it’s 1:06 pm Eastern and gold is at $1,743.30 and silver has broken above $35! Nice. We’ll see what happens as the trading floor closes shortly.
Those are the stories I’ve got for you today. Tomorrow is Friday, oh, and I just happened to think, we’ve just gone through options expiration for November. And we’re up.
Until next time.