Tag Archives: platinum

Every week, we give you the latest news about gold, precious metals and the overall economy. This week’s stories include: Russia and South Africa meet to discuss how they can boost the prices of platinum and palladium, gold smuggling in India is still on the rise and gold buyers are back thanks to the sell-off in U.S. stocks. Click on the link for more details.

With the Dow crossing 14,000 and investors seemingly infatuated with the stock market’s latest rally in the last few weeks, gold closed sideways last week and finished at 1,668.25. But before anyone falls too hard for stocks, some perspective may be in order. First, red flags and “sucker alerts” abound as reports surface that insiders have been nine times more likely these past few weeks to sell shares of their companies than to buy new ones. This doesn’t bode well for the long term, not when insider selling usually foretells a drop in the markets. Second, put the value of the Dow today against the price of gold – despite this rally – and the Dow is down since 2009. The moral of the story? An abrupt end to this “sucker” rally could be near. But even if stocks continue to grow, history suggests that gold is likely to continue to outpace them. Keep your eyes wide open.

Two weeks ago we saw gold business cards in Hong Kong, and last week brought a lucrative heist in Portland and a mineral museum robbery in California – seems as if the desire for gold is reaching a fevered pitch. Talks of secession from the Euro were joined by screams for secession from the United States, further fueling the currency realists’ call for gold-backed paper. With the yellow metal range bound this week, closing at $1713.50 on Friday, those who thought they should jump in did. Silver continues its saunter towards a predicted breakout, closing at $32.27. With no clear economic policy from any place on the planet, the markets are struggling to find their footing, leaving many to wonder, “How close may we be to a surge from precious metals?”