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FSN: Gold and Silver Price Move: Is This the Real Thing?
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
Gold seems to be beginning to find some stability at or above the $1,640 level and silver around $29.50, but can this be considered preliminary signs of a significant breakout from the recent flat trading range?
by Lawrence Williams
Mine Web
LONDON (Mineweb) – Gold has broken up through $1640 this morning – seen as a resistance level by some technical analysts – and silver remains well above $29, but in the words of former global pop group Queen’s Bohemian Rhapsody – “Is this the real life? Is this just fantasy?” As usual only time will tell, but we are coming towards the end of the northern summer doldrums period and the precious metals do seem to be at last breaking out of their recent very tight trading range.
Recent news that mega investors George Soros and John Paulson have been climbing back into the GLD gold ETF may have given things a fillip, as had an appearance of a little more stability in the Eurozone situation (but don’t bank on the latter to continue) and the prospect of more Chinese monetary easing.
Continue Reading at MineWeb.com…
2012-08-22 06:17:26
Source: http://silveristhenew.com/2012/08/22/gold-and-silver-price-move-is-this-the-real-thing/
Source:
forget metals, thinkbeans and rice.
That Paulson and Soros have entered the ETF arena tells me they’re getting ready to do some major HFTs and try to crash the price of Gold.