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PM'S having a nice day so far, but the market isn't ..

JulioJulio Posts: 2,501 ✭
in Precious Metals
closed yet. image. jws
image

Comments

  • DeadhorseDeadhorse Posts: 3,720 ✭
    Nah! Can't be so.

    PM's are in FULL MELTDOWN!!

    Don't you read the headlines around here? image
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
  • JulioJulio Posts: 2,501 ✭
    "Don't you read the headlines around here?". Deadhorse.
    Yes, but I don't pay much attention to alot of them.
    image. jws
    image
  • FistFullOfDollarsFistFullOfDollars Posts: 360 ✭✭✭
    1-iShares Silver Trust bullion holdings hit record

    Fri, Jan 16 2009, 11:10 GMT
    http://www.afxnews.com

    LONDON, Jan 16 (Reuters) - The world's largest silver-backed exchange-traded fund, the iShares Silver Trust, said its bullion holdings rose 1 percent to a record 7,143.27 tonnes on January 14.

    The New York-based trust, which issues securities backed by physical stocks of silver, has increased its silver holdings by 2,300 tonnes or 48 percent year-on-year, according to data published on its website. (http://us.ishares.com/product_info/fund/overview/SLV.htm).

    Buying of silver bullion by ETFs has formed a major tranche of demand in recent years, helping to offset falling consumption in industry and from the photographic sector.

    Investors have taken a greater interest in physical precious metals in recent months as volatility in other assets has led to increased risk aversion.

    "We see this as driven by the safe haven story," said Standard Chartered analyst Daniel Smith. "We remain quite bullish on gold, and that is helping lift interest in silver. If you look at the gold-silver ratio, silver looks quite cheap."

    Silver's appeal as a currency hedge and an alternative to gold is outweighing falling demand in other areas, he said.

    "From an industrial perspective, demand is quite weak but I don't think people are focusing on that as much as where the dollar is likely to go, and where gold is likely to go," he said.

    Spot silver was quoted at $10.75/10.83 an ounce at 1045 GMT. Standard Chartered sees silver prices averaging $12 an ounce in the fourth quarter.


    I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Yup, gold melted "up" all the way to $842 from $808.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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