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Strong Year-end Rally Gathering Speed for Gold and Silver as a Much Brighter 2015 Beckons
by Peter Cooper
Arabian Money
Gold prices are up almost a $100 in the past few trading sessions while in percentage terms the advance in silver prices is a cracking 17 per cent to $17 an ounce, eliminating losses for the year. The recent sell-off in precious metals seems to be over with a massive increase in long positions in the Comex powering prices to the upside.
Why did the naysayers at Goldman Sachs get this wrong? A cynic might suggest they have been the biggest buyers having pushed the gold price down too far. More realistically what looked like a breakdown in the gold chart actually proved to be a capitulation bottom, and once sellers are exhausted there is only one way for a price to go.
Super silver
Silver as ever is the more volatile sister of gold. It’s in a tighter market. Silver is the rarer precious metal, so it does not take much buying to shift the price. Then again silver exchange traded fund holdings are up 10 per cent this year, there has been no exodus like the gold ETFs. Physical demand for silver is higher than ever.
Continue Reading at ArabianMoney.net…
Source: http://financialsurvivalnetwork.com/2014/12/strong-year-end-rally-gathering-speed-for-gold-and-silver-as-a-much-brighter-2015-beckons/?utm_source=rss&utm_medium=rss&utm_campaign=strong-year-end-rally-gathering-speed-for-gold-and-silver-as-a-much-
