Melman on Gold & Silver
September 2013 by Leonard MelmanIt is difficult to look at unrestrained growth in such important monetary indicators without becoming concerned about the future stability of America's economic system.
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.
With conventional financing still difficult to obtain, it is little wonder that “self-financing” is the number one form of financing used by small business owners, miners and prospectors.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
...as a holder of contrarian points of view, I am somewhat delighted to see the recent enormous surge in published negative commentaries regarding gold's future.
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