The gold price and the silver price are going gang busters to the upside surprising most people, and still people are having a hard time believing there is anything sustainable about these moves to the upside in gold and silver. So be it. You can lead a horse to water but you can not make the horse drink the water.
Gold made an all time New York daily closing USD high.
Gold also made an all time New York weekly closing USD high.
On October 5, 2009, Robert Higgs gave the following speech at The Future of Freedom Foundation’s “Economic Liberty Lecture Series.” It is long (an hour and a half) and well worth it.
Robert Higgs is Senior Fellow in Political Economy for The Independent Institute and Editor of The Independent Review. He received his Ph.D. in economics from Johns Hopkins University, and has taught at the University of Washington, Lafayette College, Seattle University, and the University of Economics, Prague. He has been a visiting scholar at Oxford University and Stanford University, and a fellow for the Hoover Institution and the National Science Foundation.
Gold and silver look like dogs or horses being let out of the gates at a race track. Most people are not paying attention and have no idea what is happening in the really important gold and silver markets, let alone the why behind what is happening, lulled asleep by the bear market rally going on in general equities (a dangerous place to be). It's about time the gold and silver prices are making fast runs to the upside after such long base building periods of time. It would not be unusual for the gold price and the silver price to keep on heading up for the next 5-6 months for another good gain in a bull market that still has years left to it.
Does that "M" on the gold ring stand for money?