There are a lot of articles today on this page and I could not put them all on. The mainstream media is saying that silver is going up on economic concerns. They can give whatever reason that they want to, and they most likely will need to come across more stories. Silver is breaking out right now and the levels in which Silver can go towards is almost endless when we price it in fiat currency. Some of the other articles talk about the cup and handle formation that is very bullish and I have talked about a long time consolidation that silver has been in. I have also mentioned the 61.8% fibonacci from the 1980 highs and the 2002 lows. On an exponential level this is at $19.00. Because it has had several tests of this level, it seems as if silver is ready and set to break free from this level and soar to new levels.
ARTICLES
Gold, silver rise as investors seek safer assets
Wary investors turned to gold Tuesday, sending the price to its highest level in two months, despite slightly more optimistic economic news. Gold for December delivery rose $11.10 to settle at $1,250.30 an ounce as it headed toward its record high settlement of $1,258.30 an ounce, which was set earlier this year... (AP)
A Major Breakout In Gold & Silver Mining Stocks May Be Brewing
The global debt crisis and the war on deflation by the Federal Reserve is causing precious metals to approach a key resistance level. Gold is nearing a 52 week high while silver is close to breaking $19. A break above these levels on high volume could be the beginning of a major move higher. Gold and silver has been a safe haven asset. Many concerns were expressed if miners would collapse in a weak equity market. However, since the last Federal Reserve meeting...(Daily Markets)
Gold, silver rise on safe-haven buying
Gold and silver hit multi-month highs in Europe on Wednesday, with gold breaking above $1,250 an ounce for the first time since late June, as investors bought the metals amid concerns over the pace of U.S. economic growth. Spot gold hit a high of $1,254.25 an ounce and was at $1,252.75 an ounce at 1132 GMT, against $1,248.99 late in New York on Tuesday. Silver hit its highest since May 17 at $19.54 an ounce and was later at $19.42 an ounce against $19.34... (Canoe)
Special Report: How to Buy Silver
An analyst yesterday (Tuesday) called for gold prices to "break out" and head for record highs. But what about the "other" precious metal - silver? Peter Krauth, the Money Morning commodity expert who also runs the Global Resource Alert advisory service, takes an in-depth look at the "white metal" - and shows investors how to buy silver...(MoneyMorning)
Investing In Silver Coins, Silver Futures And Silver Stocks!
Silver vs Gold? What is better as an investment. Many people are obviously going to say gold. But, to tell you the truth silver prices are expected to skyrocket three times more fast as compared to gold in this decade. The reason is simple! Silver has far more industrial uses as compared to gold. Silver is being used in a large number of industries like washing machines...(TraderCurrencies)
Gold & Silver Outshines The Markets In August
U.S. stocks finished a lackluster session little changed on Tuesday but finished the month with their worst August performance since 2001 as concerns about the economy continued to pile on. The DJIA closed on Tuesday to end at 10,014.72. Stocks still posted steep losses for the month as investors lowered their expectations for economic growth in response to a flood of weak data in August. The Dow shed 4.3% this month, its first down August in five years and the blue-chip measure’s worst August since 2001. The S&P 500 and the NASDAQ also posted their worst August performance since 2001, down 4.7% and 6.2% respectively. Small-capitalization stocks, seen as leading indicator of the economy, have taken an even bigger hit this month. Amazingly to the unfortunate, the Russell 2000 index of small-cap stocks posted its worst August performance in 12 years...(WallStreetGrand)
Silver Up 6% Last Week - Gold-Silver Ratio at 65 Sees Value Buyers Accumulating Silver
Concerns that the US economy is sliding back into recession has led to equities internationally coming under pressure and further flows into safe-haven assets. Gold and silver have consolidated from last week's gains and remain near closing levels from yesterday and last week. The yen - a preferred carry trade at times of financial stress - rose back to a 15-year high against the dollar as doubts remain...(ForexPros)
IS JP MORGAN CLOSING DOWN ITS SILVER MANIPULATION DIVISION ????!!
JPMorgan Chase & Co. is shutting down its proprietary trading desks and eliminating around 80 jobs to comply with new restrictions on investment banks, a source familiar with the situation said on Tuesday.(GodlikeProductions Forum)
JPMorgan Is Shutting Down All Prop Trading Desks
JPM told traders who bet on commodities for the firm’s account that their unit will be closed as the company begins to shut down all its proprietary trading, according to a person briefed on the matter. The New York-based bank will shut proprietary trading in fixed-income and equities late (Business Insider)
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