Melman on Gold & Silver
December 2014 by Leonard MelmanAs we have noted through the years, perhaps the most direct, single influence on the future of gold and silver is their monetary opposite—currencies in general, the US Dollar in particular.
It should come as no surprise that gold and silver acted similarly, rising sharply during the early hours of the crisis and retreating as tensions abated.
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.
The most impressive fact about gold’s performance during 2016 is the yellow metal’s ability to withstand news shocks, hold on to previous gains and gradually move to new, higher levels.
Last month saw the mining industry take center stage as Toronto, Ontario was once again host city for the giant PDAC annual mining convention. We take at look at that gathering below, focusing on some of the negative industry sentiment on display.
…there is now concrete evidence that growing numbers of investors and other concerned observers are now turning to gold as a storehouse of value in these potentially troubling times.
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