Thursday, August 23, 2012

Gold and Silver Showing Surprising Strength

So gold and silver are showing some strength this week. Why?

Well, it seems there isn't any dramatic mainstream news to justify this. Franklin Sanders, the noted analyst says,

"That little mouse-burp FOMC announcement isn't causing this. It's something else, I just can't see it yet. Never mind, there's a full head of steam in the gold and silver locomotives." 

Unusual for him not to have some sort of opinion on price movements. So we await.

Could it be the bad corn harvest in the US and grain harvest in Russia causing all commodities to go bananas. Grain indexes are now higher than the highs of 2008 when food prices caused riots in the middle-East. Oil is moving and hence petrol/gas prices here in NZ are at a record high.

The US and UK are threatening military action on Syria if they even hint at using their chemical weapon hoard on the opposition forces.

Perhaps all this conspires to shoot prices higher as stops are taken out on the trading algorithms.

Got gold? Email me, I'll give you some options: asmitho@gmail.com

Gold in New Zealand dollars: $2034.38 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $36.87 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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