Prices rebounded sharply from late-week weakness, briefly reaching $4,950 before ending higher despite a CME margin hike that raised COMEX gold futures margins to 9%...
The bull market for gold, silver, the gold/silver stocks, many other precious metals, and even near precious metals this past year or so has been nothing short of spectacular.
In India people will use all the price crash to buy physical gold and physical silver in all forms. Gold and silver prices have reversed significantly from the lowest price in the last two weeks. “People are thinking, OH I have lost a chance to buy at lower price in gold and silver.”
Year-to-date, Gold’s average daily percentage range is 4.2%, including one day of 10.9% and another of 16.6%; (the year’s daily median thus far is 2.6%)
Excluding this latest monster record bull, the ten-biggest and ten-most-overbought cyclical-bull toppings since 1971 averaged subsequent big-and-fast drawdowns around 21% in just over a couple months.
Ira Epstein covers the recent turmoil in the metals and stock markets, highlighting significant declines such as silver reaching $64 an ounce and gold dropping $1,000 from its peak.
Ira Epstein discusses the current geopolitical tensions between Iran and the United States, focusing on the potential implications for the metal markets, particularly gold.
