What gold and silver investors want to know above all is when the bull market will resume. In a very real sense, it already has resumed. Futures market prices aside, evidence abounds that a raging bull market in physical precious metals is now underway
The German Bundesbank released an inventory of its gold reserves yesterday in order to quell ongoing public concerns about the true amount of actual unencumbered reserves and the location of the reserves stored in vaults in Frankfurt, London, Paris and particularly in the New York Federal Reserve.
The future direction of the planet is a choice between independent money and the central bankers counter-party paper Ponzi. Gold is independent monetary wealth with incredible wealth value that cannot go broke and over time will progress in value.
Gold finished marginally higher yesterday, extending gains to a second straight session and consolidating on Friday’s price gains. Gold bullion is trading near $1,140 in London today after climbing to a one-week high of $1,141.80 yesterday.
Looking at the daily chart in gold it still looks somewhat range-bound, failing to take out the past highs in September and August, however the silver market has taken out both those highs and closed above them technically favorable for silver.