they federal reserve controls the comex they are up to something with silver , they are afraid of it or they wish to keep the miners under there thumb , I don't know what , but its crook-ed ,this raising the margin requirements 5-6 times in one year, only the big banks can play and the silver miners are the sheep for the sheering , try trading silver and you will see what I mean , It trades fast real fast.
We are moving now!!. GDX and ^HUI have gone ballistic after their initial drop post Fed announcement GPL has now made it through 3.00. If it can hold support here we should be good to 3.20-3.30 before we see any resistance. All factors being right of course. Spot silver is disgusting today unless you are taking advantage of the dip to buy physical. I has not been tracking gold but that is because it is also a industrial commodity. It will come around and when it does it will go parabolic too.
Kinda funny how gold can't manage to drag his skinny little brother, silver, up with him.
Another really amazing thing is that the price increase in gold reflects a flight to safety. Other, less savvy investors, continue to flee to the perceived safety of treasury bonds and consequently those bond yields are hitting record lows. Marc Faber was just interviewed on Bloomberg and reiterated his belief that U.S. treasury bonds are currently in a bubble. He also mentioned that gold may be temporarily overbought and may suffer a "brief" correction but that gold definitely was NOT in a bubble
For those that argue gold does not pay interest or a dividend, we can now argue that treasury bonds with maturities less than 10 years also do not pay out anything. So why hold fiat rather PM's?.
It's frustrating to watch gold move higher and not see silver moving up with it. But eventually investors will see the value of holding silver and the silver price will catch up. We must remain patient, and that has never been easy for me. But our day will come and we will be thankful some day that we loaded up on silver when we had the chance to do so at such a low price. Remember that even at only $37 an ounce, silver is up by four times since December 2008. SS
SS, if I'm not mistaken the silver/gold ratio fell to around 31 when silver recently bolted to $50/oz. At that time, many silver uberbulls were predicting the ratio might fall to 16 which used to be an historical average many years ago. Right now the ratio has climbed back up to 46.2.
With silver disappearing into solar panels, etc....it would seem that the ratio should tighten up a little and hopefully without a drop in gold prices. In any event, many PM advisers predict silver will go above $50 by years end. I don't see anything to stop that from happening. Should be good news for GPL.....eventually.
And of course, we have earnings report after the market close on Thursday.