The week before last, we saw some real carnage in the gold and silver markets. In two days, April 12 and April 15, we saw the price of gold fall over $200 and many in the financial media came out of the woodwork to say that the gold bull was over. Since that time we have had a move off the low of $1,322 reached April 15th to Thursday's price of just over $1,470, a nice $140+ pop back up in price. Silver was up more than $1.30 to $24.24 This leaves investors wanting to know, have we hit bottom in gold and silver and will this be the 13th year straight of higher gold prices or will we continue the pattern of lower lows?
In September 2011, the dollar hit a low of 74.14 as seen in the following chart. Below that you will see the chart as to where the dollar as of this writing, currently sitting just below 83 on the index.
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Gold And Silver Dead Cat Bounce And More Carnage To Come Or All In?
Published 04/28/2013, 03:43 AM
Updated 07/09/2023, 06:31 AM
Gold And Silver Dead Cat Bounce And More Carnage To Come Or All In?
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