Melman on Gold & Silver
June 2013 by Leonard MelmanBanking problems continue to find their way into the world’s financial media, and we note below that another nation, Slovenia, is now grabbing attention with a banking crisis of their own as well as a downgrading of their national bonds by Moody’s Investment Services.
This is welcome news. Many silver market commentators have stated publicly that the price of silver, currently hovering around $23.50 per ounce, should be much higher due to the scarcity of supply and the lack of faith in fiat currencies such as the US Dollar.
Next, all of silver’s chart action since mid-2011 has taken place under a declining trend line (dotted line), which has held for more than four years. Any trendline of that duration must be taken seriously.
…they continue to strut around and make declarations and proclamations as if they were still in positions of power. In other words, in political terms, they haven’t “got the message” that they are now in a minority position…
The extensive cost reductions now being put in place are not just a short-term reaction to the recent drop in gold prices...
This past month has been filled with headline-grabbing news events and, for a change, it was not only politics that dominated those news stories, but rather financial markets themselves, with gold and mining shares grabbing a major share of attention.
The Bawl Mill • Breaking Rock the Old School Way • My Lucky Month of March • Gold Rush in the Congo—Part II • A Journey Into the Silver Peak Range • Ancient River Channels of Trinity County • Which Nugget Detector Should I Get? • Liberty and the Phoenix Mine • Confluence Placers • Spanish Gold Ledge Still Producing Gold • Nevada Mining Tax Cap Repeal Clears Committee • Mining Stock Quotes and Mineral & Metal Prices