Now no apparent impediments to gold and silver’s price march up
Those of you who already own gold and silver woke on Saturday to another wonderful rally overnight. Gold is at $1547 and Silver $26.55. That’s 20% and 33% increases from June respectively. This last rally was after disastrous housing figures out of the US putting more pressure on any tapering really starting (tapering lifts bond prices which lifts mortgage rates). But as was demonstrated last week after the last US Fed minutes continued the TALK of tapering QE “soon”, gold and silver are not reacting like they originally did. There are strong views that tapering is now fully priced into gold and silver and growing awareness that they can’t really do it anyway (see today’s “They have to taper...bu?t they can't” posting on our website). The other historic driver of prices down, the ‘short’ bullion banks, are now ‘long’ in gold and have no reason to stop this rally.