Spot dealings opened with a bid-side quoted at $1,667 in gold and at $32.50 in silver. While there is still scope for attempts at taking out overhead resistance near $1,680 and $1,704 in gold (with a possible $1,730 end-target) the going has been anything but smooth.
Harry argues passionately that we are witnessing the end of a third great bubble in debt, hot on the heels of earlier forays into technology stocks and real estate. The Federal Reserve is manipulating all markets, and the exercise will end in tears.
Spot precious metals dealings opened on a weak-to-lower note this morning, as recurring rumors of a deal between Mr. Gaddafi and Libyan rebels continued to pressure oil prices and bolstered the US dollar.
Silver has risen another 1.4% today to a high of $34.44/oz and above the 31-year interday high of $34.33/oz reached last Tuesday (Feb. 22). Silver is higher in all currencies this morning, especially the Japanese yen.