Precious metals markets bit.ly/goldSilverBullion have been literally exploding since the end of last week. Friday saw hefty gains along with the long-awaited breakout over the $1350 level in gold as well as simultaneously clearing the $24 mark in silver. After a flat market yesterday, the move has been confirmed today, with both gold and silver posting additional healthy gains. As the bulls apparently are gaining back control after a prolonged period of urgently required consolidation in both gold and silver to prevent overheating, both precious metals appear set to continue the secular bull market. The underlying fundamentals of increasingly likely “tapering” of QE in light of allegedly positive economic numbers in the U. S., while increasingly bearish on stocks, are also clearly favouring safe-haven investments like precious metals. Expecting higher prices throughout the rest of 2013, spot and futures markets appear eager to push them through sooner rather than later.
Posted on: Wed, 28 Aug 2013 11:41:29 +0000
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