My greatest fear is that the PTB might use this PM tumble to implement changes to the current IRS 1099 gold and silver reporting requirements, thus hammering their value even further. Let's face facts, THEY don't want people in PMs.
Thanks to Lod for the tip on Texas Precious Metals!! Really an outstanding Company.
Thanks Jim. I'll reach out to them when my personal 'buy' button is hit (that almost happened yesterday). And Esso, you're right. Think long and hard before completely retiring. It grows old.
Gold and silver prices are ending slightly higher Friday, at the end of a rough week.
It was the first gain for gold after four straight losses. Traders have been dumping gold since last week after the Federal Reserve laid out a possible exit from its bond-buying program. The prospect of the program ending allayed traders' fear of inflation and diminished the appeal of gold.
August gold rose $12.10, or 1 percent, to close at $1,223.70 an ounce. Gold is still down 9 percent since last Wednesday, when the Fed made its announcement.
Silver for July delivery jumped 91.8 cents, or 5 percent, to $19.451 an ounce. Silver is still down 3 percent since the Fed news.
Silver for July delivery jumped 91.8 cents, or 5 percent, to $19.451 an ounce. Silver is still down 3 percent since the Fed news.
But, silver is now half the price it was 3 or 4 months ago. This is when one of those big banks on Wall St. sold it short by a million ounces. It is all fixed for those scumballs to beat the Street. ;)