Silver Ending Week Sharply Higher

Silver prices have ended the trading week sharply higher in London. After most Friday commentators already noted that both silver and gold prices have soundly added to their gains at 2.4% up for the week (and 1.2% for gold, respectively), silver jumped another $2 per ounce to trade around $32 per troy ounce in New York afternoon trading. This sharp move indicates that a breakout from the Christmas low may be imminent, confirming that last month’s silver lows around $26.13 per troy ounce may represent a hard floor and significant support level. One source added, that silver prices are likely...

More Gold Price Manipulation by Central Banks

After a steady move higher, gold prices had a sudden and very strange loss during yesterday’s session. The precious metal fell back almost $50 without warning after it spiked to a steep early-morning high in the U. S. to close at $1710.45, down $31.10. Everyone who has ever seen a price chart of anything (need not be gold) will notice that Thursday’s action looks a bit strange. Here is the chart for everyone to check out: Suspicions as to this not being genuine price movements did not take long to be confirmed. It took just a few hours for news...

The Euro — a Goner

The departure of Jürgen Stark from the German Bundesbank’s board sent the European Single Currency or euro sharply lower. The euro closed down more than three cents against the U. S. dollar and ended the week at $1.3655. This weakness was confirmed accross the board with the euro also down against the British pound, Canadian dollar, Japanese yen, minor Scandinavian and other currencies. Mr Stark had been seen as the last economics hawk on the board of the Bundesbank and his departure indicates that the euro has lost another defender of financial responsibility. News of the German public being fed...