Charts
Gold
Sorry - down 0.2% not $
Silver
On silver, one point to note is the April and Sept 2011 smackdowns from top to bottom were about a 30% percentage drop.
A 30% percentage drop from the present closing price of $33.55 is $23.49. I'm not saying that WILL happen. But having happened twice in the past year, I think it's well worth keeping some powder dry and have a website like silvergoldbull.com bookmarked in case you see that price sometime overnight.
Gold to Silver
Gah! That's supposed to say "up 2.3%"
I think the big news from the week was the CME LOWERING marging requirements for metals contracts - which as Zero Hedge indicated is "short term bullish," but when those margin's get hiked again, I think we'll see the metals fall through the floor.
Never a dull moment in the precious metals markets - but February is shaping up to be exciting, if a little tense.
What do you think. How are you feeling about the metals markets right now? Anything you want me to research, write about, do a little jig or PMV video about?
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