JPMorgan Chase, the largest U.S. bank, one the largest providers of financial services in the world and one of the most powerful banks in the world has accumulated one of the largest stockpiles of silver the world has ever seen.
Gold rose for the first time in four days after U.S. lawmakers reached an agreement to increase the debt ceiling and increasingly important Chinese credit ratings agency, Dagong Global Credit Rating Co. cut its credit rating for the U.S.
As to the allegedly strong dollar, James Turk suggests comparing it to the price of gold rather than other fiat currencies for a better picture. And the world's newest currency—Bitcoin—has a lot in common with one of the oldest—gold.
The US Commodity Futures Trading Commission should shortly conclude its four-year-old investigation of the silver market but has gone beyond the schedule that was the wish of Bart Chilton, the commissioner who originally called for the probe.
Realistically, it's pretty unlikely that the U.S. will ever re-adopt the gold standard, both because of the cost and because of the vested interests opposed to it. But most of the benefits of a gold standard can be attained without moving to one.
Gold edged down on Wednesday on profit taking after sustaining three days of gains which saw gold creep slowly above the $1,600/oz. level again. Recent dollar strength and a lack of clarity may be partly to blame for gold’s lack of gains recently.
No one knows the machinations of the day-to-day silver price better than Ted Butler. So naturally, that's whom I turned to for an in-depth perspective on what's really going on with the silver price. As usual, Ted tells it like it is.
Like GLD with, the authorized market participants for SLV add silver in response to more buying pressure than selling pressure and vice versa. Clearly there has been positive money flow for gold and silver ETFs over the past week.