Gold and silver spiked up then down, and silver went a bit lower than its starting point, but both seem to be settling down - or rather, up. Quite possibly the highs for the day are in. But it’s hard to imagine they won’t move higher again soon.

Here is an interesting article about what may one day be seen as the tipping point for gold:

http://www.zerohedge.com/article/golden-tipping-point-university-texas-takes-delivery-1-billion-physical-gold

The second-largest academic endowment in the US has just taken delivery of 1 billion dollars of gold bullion. That is amazing, and this author speculates that this will cause a chain reaction among institutional investors. That would cause the most interesting market behavior, because paper gold exceeds physical gold by a factor of 100!

Something like this could be what finally causes a run on gold and a default of the Comex. This is not necessarily good for holders of paper gold, so be warned.