Melman on Gold & Silver
August 2012 by Leonard MelmanOne of the most surprising jolts of the past month came with the decision of the Supreme Court upholding the legality of what has come to be known as “ObamaCare.”
Many gold and silver observers have been more than slightly concerned regarding the lack of any sustained rally...
Some financial commentators have speculated that bitcoin and other virtual currencies have captured a portion of funds that would have been invested in gold. I find it a bit ironic that people who invest in precious metals would even consider another fiat currency.
Just as we were sitting down to write this column, a political bombshell was released when Rick Santorum announced he was terminating his efforts to win the Republican Presidential nomination, virtually assuring the nomination will be to Mitt Romney. The remaining candidates, Ron Paul and Newt Gingrich appear to have no realistic chances.
On a personal level, I have been part of the business, brokerage and financial columnist worlds for 45 years, since the mid-1960s, and in all those years, I have never seen a collection of negative news items similar to what has been published during the past month. In short, taken together they may very well be describing the end of the economic world systems as we know them.
...further strength in the Dollar, weakness in Crude Oil, and potential bearish action in gold and silver may yet be ahead.
...when we begin to observe what appears to be an early indication toward a more bullish stance in one of the major miners, that can reasonably provide us with a rising degree of optimism for the sector itself.
The Bawl Mill • Ask the Experts: Something for everyone... • Ask the Experts: VMS ore • Ask the Experts: More suggestions for dealing with metallic trash.... • Ask the Experts: various mining courses • Sniping for Gold • Gold in Guyana—Part II: Process Optimization at Sacre Coeur Minerals' Lower Puruni Alluvial Mining Project • Following Clues to an Old Mill and Vein Strike • Small-Scale Miners Rock the Mining World • Big Rock Gold • Still Gold in Humbug, Arizona • Never Take Safety for Granted • Mining Stock Quotes and Mineral & Metal Prices