Melman on Gold & Silver
February 2015 by Leonard MelmanWhy, if America’s economic performance is advancing steadily…are two especially sensitive and widely-used commodities performing so poorly?
Although there is no direct connection between the price of lumber and the precious metals, there is an important indirect one due to the importance of the housing market to overall economic activity.
...for the most part, visible price inflation has remained dormant for the most of that period of time. This state of affairs would appear to contradict both monetary history and typical cause and effect reasoning. Even the Fed has expressed some surprise and concern regarding the matter.
For “hard money” advocates, this has been a remarkable month. Gold has risen by more than $100, silver has begun to surge, and the headlines are full of news items quite capable of raising public concerns to crisis levels.
All of these negatives have finally begun to erode bullishness on Wall Street and the financial markets began to look wobbly at best and dangerously weak at worst.
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