Gold traded higher for a second day in a raw on news that the Greek Government accepted the austerity measures despite the overwhelming rejection of the IMF and EU plan by the Greek population .that is obviously a great news for the Gold and silver but especially for the Euro which rallied against the US dollar . Tim Harvey, Senior VP at ETF Securities, says that Gold is a dollar hedge not an inflation hedge , he expects the Gold to trade higher in the near future
These manipulated modestly low silver prices are getting annoying. Either they let go of the chains and leave it to the free market, or they suppress it down to $25, JP Morgue makes the switch from all short to all long on silver, and then we all watch the price skyrocket.
I understand that these flat, low silver prices are good for industry, especially for solar panel manufacturers, but its really not worth it. They should bring it down to $25 let all industries buy all of the silver they’ll ever need for the next 100 years, then let it skyrocket.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)
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