Friday Market Review
Aug
23
Gold Price up 1.7% for the Week — Silver Price up 1.8% Franklin Sanders
What's the score? Silver and GOLD PRICES rested this week
after the week before's elephantine gains, but today picked up the ball and
began running again. GOLD/SILVER RATIO new low corroborates the metals' rally.
Dow measured by metals continue to plunge, and stocks in dollar terms didn't
precisely shine, either. US dollar index stayed flat as a central banker's head
(yes, I did use that last week, but I like it so much I had to plagiarize it
from myself.)
Aug
23
Daily Report Harvey Organ
Gold closed up Friday $24.50 to $1395.70. (comex closing time
). Silver was up 78 cents to $23.74 (comex closing time). In the access market
today at 5:15 pm tonight here are the final prices: Gold: $1397.80, Silver:
$24.08. Gold and silver skyrocketed early Friday morning due to the news of a
terrible housing report. It looks like the Fed will have to "taper" their
"taper." Early Thursday morning we learned of Israeli, Jordanian and USA
commandos entering inside Syria. Late Saturday, events escalated which will no
doubt send silver and gold northbound again. We have many stories on this front.
Aug
23
Why
Didn’t Gold Crash? Bill Holter
My point is this, for gold to have been “collapsed” back in
April based on the potential sale of 13 tons and then rally on the day after an
announcement of a potential 200 ton sale has to tell you that something has
changed. My guess is that “something” is the state of or availability of gold
inventories to meet demand. The market is telling you this if you are listening,
the monkey hammering of the gold price simply backfired. As a side note, how
long do you think a 200 ton load of “gold booty” would hang around before the
Chinese (or Russians) gobbled it up in its entirety?
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