Both gold and silver hav ebeen repeatedly hit over the the last week. Gold amnaged to hold above US$1,230 per oz but silver got hit badly when someone dumped US$2B in paper silver to caus ea massive drop in the price of silver on Thursday.
Who is the someone? Silverdoctors said it could be a major silver player coming to rescue the commercial shorts.
This resulted int he miners being ht as well. Meanwhile, we have a parade of Fed speakers, including Yellen saying now's the time to raise interest rate because the economy is getting stronger. Stronger? Is that a joke? The Atlanta Fed GDP Now is forecasting Q1 2017 GDP at 1.8%. That vs 1.9% in Q4 2016 and 3.5% in Q3 2016. That's a 2 month consecutive drop in GDP! And in my dictionary, that signals a technical recession!
Once the reality sinks in, we could see a stock market sell off and a move into safe haven assets like precious metals.
Who is the someone? Silverdoctors said it could be a major silver player coming to rescue the commercial shorts.
This resulted int he miners being ht as well. Meanwhile, we have a parade of Fed speakers, including Yellen saying now's the time to raise interest rate because the economy is getting stronger. Stronger? Is that a joke? The Atlanta Fed GDP Now is forecasting Q1 2017 GDP at 1.8%. That vs 1.9% in Q4 2016 and 3.5% in Q3 2016. That's a 2 month consecutive drop in GDP! And in my dictionary, that signals a technical recession!
Once the reality sinks in, we could see a stock market sell off and a move into safe haven assets like precious metals.
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