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.

Fundamental information on gold and silver turned more to the bullish side this past month, and we can point to three particular items as the basis for that conclusion.

One last subject is the performance of gold and silver themselves—which has been positive for more than two months—and to explain the reasoning behind these rallies.