Gold hovers in the $900+ area and silver around $16.50.
posted on
Jan 14, 2008 08:24AM
Seems as when the Cartel tries to knock the gold price down buyers step in and prevent them from lowering it any further. I guess they are fairly tapped out to pish it lower.
On the other hand it also appears to me that the gold price is not reaching much higher levels because of the Cartels actions are just enough to keep it from exploding. It may also be that the users of the metal (jewelry market etc.) are not willing to pay the higher price and are stepping back every time it advances a bit.
It is a see-saw battle that eventually has no where to go but up. That is not based on any insight but on the historic truth that both of these metals are severly under priced and long over due for correction.
ETFs taking a lot of the action and sapping investors from the stock market.