Why is silver and gold doing so well this week?

Rampage

??

BigE

Maybe it's because of the 80 billion they just approved/printed to fund Iraq?-----------BigE

Steve27

The answer is that it's not just this week. The weak dollar has been driving gold and silver up for a while; however, I will admit that this has been a very good week for both metals.

GOLDSAINT

Gold moves when the economy is inflated to keep its true value. The word is leaking out among insiders that the Fed is printing warehouses full of the new holagram bills to inflate the economy for the election next year. If you go to the link below and watch this debt clock for a couple of minutes you will have some concept of what is happing and this is only debt that has been sold. The other 30 plus Trillion that has been borrowed by the government the last 30 years out of the S.C. Trust fund, the Federal retirement Trust, the FDIC, FSLIC, Pension recover fund etc. etc. does not show since it is internal, and backed by Gov. promosory notes

http://www.toptips.com/debtclock.html

paigowjohnny

I heard the Hunt family has been bored lately

GOLDSAINT

paigowjohnny,

The Hunts are done, the ladies are in charge now!
Soros and Buffet have been busy though!

eagle7

You dont have to go to Harvard or Yale to figure this out. In fact most highly educated people cannot figure this out if the pundits on CNBC are any example. Listen up you all. Im going to splain you something! Gold and Silver are going up for a very simple reason. And that is "There are more buyers than there are sellers!" One other thing, dont ever fight a rising market. In stocks, in metals, in anything. Fighting a rising market will lose you money. So forget about the reasons and dont fight a rising gold or silver market. Jump in and enjoy or stay out and lose out. Nuff said!

cladking

The debt has been increasingly rapidly for twenty years while the fed and central banks
have artificially suppressed the price of precious metals by keeping a close reign on money
supply and the manipulation of the gold price. This is breaking down because of the need to
pump up the economy during the just ending weakness and the need to stem the huge out-
flow of capital in the trade deficit. With Mr Greenspan expressing a willingness to monetize
some of this debt there are growing numbers of people buyiny the metals in anticipation of higher
inflation. There is always a struggle between the bulls and the bears and this week the bulls
have been rampant. Look for a slowdown in mid December and then a resumption of the rally
shortly thereafter. The central banks will eventually kill the rally but only when gold has achiev-
ed a higher level. This level will likely be maintained for a couple years before gold prices again
break out.


edit to correct name. Thanks Coinkat.

roadrunner

This has been going on for the past 2 years. Where you been?

It's not just gold but silver, wheat, soybeans, oil, copper, and a host of other commodities. The Asian market (India and China) can use all they can get. The last 6 months for many of these has been explosive. It's a matter of valuing what has real value and what doesn't (fiat money). This shift of events may be around for a lot longer than you think. Numismatic Coins have been profiting by the same movement. The infusion of 15 billion dollars in cash every week by the FED hasn't hurt any. But it has hurt the US dollar. The commercial gold dealers and central banks don't own enough gold (or don't have the *alls to risk it all) to keep on depressing the gold price as they have for the past decade or more. They sold half of what they had over the past 5-10 years to keep gold down as low as it was. Game over. Time for a new game. And the Govt is trying to keep a lid on all this by spinning an economic recovery, Jessica Lynch, and anything else that will keep us from not buying more stocks and SUV's. At least long enough to limp through to the elections.

roadrunner

coinkat

Greenspan is the Federal Reserve Chairman. Paul Volker has been gone for years now.