$450 silver and $12,000 gold

Normally, these numbers would be from whackos posting YouTube videos from their kitchen tables. But in fact, this came from a highly reputable person, Robin Griffiths of Cazenove (can you say, “old money”?). Check it out:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/5/12_Robin_Griffiths_-_Silver_Could_Eclipse_%24450%2C_Gold_%2412%2C000.html

For now, it seems we will see some consolidation as the dollar waffles around in a seeming rally. The dollar is not collapsing in a hurry after the spike last Thursday, just before the NFP report. So that means we may have seen the low, though certainly it could get there again in the near future. It doesn’t help that the Euro is in trouble again. Gold is acting quite strong nevertheless. Silver is a lot weaker and more volatile, so it may hit new lows - in fact it just did.

This entry was posted on 13/05/2011 at 04:05 pm and is filed under Gold. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.

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