As of 3:33 am this morning, gold was trading at$1630.50/oz s gain of $13.2o per ounce; silver also is climbing getting near $ 31.00.oz, trading at $30.945 an ounce. Platinum has staged a rally the last several days, but yet again, the price to price ratio is upside down, and until platinum is either back to it’s old higher prices, or all the metals will have to fall substatially in order to be in that equation. Platinum was trading at $1543.20/ounce, a $10.30 advance so far.That still leaves the price differential at gold by $87.30/oz superior to platinum.
Another tidbit that may well affect the markets, considering how fragile they are at this point in time, is that in that huge spending bill, as usual, there are panderings to campaign contributors, and then there is the “Garage Sale” to which the government might let them. Not only can one purchase whatever area of the world, the White House kitchen til I died. It is every chef’s dream. His dream could very well turn into a nightmare for the rest of the world. By declaring “America is broke and (only) I can fix it.With those words spoken aloud for the world to hear and our enemies starting to celebrate, our lily white vulnerable underbelly like a great white shark’s has been exposed. For the President of the United States to offer up barely used land, half empty government office buildings, other technical equipment, but what really caught my eye and made me shudder to think of all those who could and might WOULD buy an Island, Plum Island, New York. Many economists and analysts are behind this option as it would be a way to quickly raise some cash and then, once the housing crisis starts to fade to it’s natural point, then one can pick a house.
Watch for gold to make several reverses during the hectic trading, but expect it to close higher than yesterday’s. Buy gold and silver on any dips, or even at these prices, as most of the analysts, economists, technical traders and market makers