Posted on 06/01/2012 3:18:00 PM PDT by appeal2
www.FinancialSurvivalNetwork.com presents:
David Morgan and I have been having too many precious metals panic reports, so we figured it was a good time to give a rally report. Today gold is up over $66 per ounce and silver's rallied over $0.80 per ounce. These are dramatic, sudden, and possibly significant moves. Gold's up over 4 percent in one day, an extremely rare occurrence, with silver following suit; silver's up at just around a three percent increase. There have been signs of a precious metals rally on the horizon. The volume at the downside was slowing dramatically. The volume today was incredibly robust. All things considered, this might just be the breakout we were waiting for, and the persistent and continual bad news about the Euro and the daily disastrous job numbers could be the catalyst for an upward resumption. A couple of days ago, Sell in May and Go Away, looked like very sound advice. But today, June 1, 2012, on National Donut Day, the skids could be greased for overweighted returns in the precious metals markets.
persistent and continual bad news about the Euro and the daily disastrous job numbers could be the catalyst for an upward resumption.
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It hasn’t stopped my wife and her galfriends from hitting jewelry shows at unprecedented levels. she has a lot of precious metals and gems.. I was shocked she actually scrapped some stuff.. I’m talking borderline hoarder. ;-]
Here’s to $3,000 an ounce gold by New Year’s Day!
QE3 is right around the corner. The FED will create money to prop up the failing market.
Hmmmmm.
There are two theories floating out there:
Theory 1: The worlds currencies, led by the Euro continuously weaken and gold and silver naturally rally as the only remaining safe haven.
Theory 2: The Euro weakens strengthening the dollar with a subsequent weakening of the precious metals priced in dollars.
Can't be both.
Theory 3: The Euro weakens, strengthening the dollar with a subsequent weakening of the precious metals priced in dollars. Then investors realize the dollar has the same problems as the Euro and the USA’s #1 export market, Europe, has dried up and the dollar tanks also causing metals to be the last man standing.
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