Higher Gold And Silver Values
Thursday, February 18th, 2010The higher gold and silver values that were seen today were somewhat unexpected, but the key marks that gold and silver surpassed today have influenced futures traders and technical trading experts to revise their earlier estimates on the next moved for gold and silver.
Peter Degraaf mentioned today on Kitco Commentaries that both gold and silver could be poised to make some impressive moves in the near future. Historical data shows that gold could be ready to eclipse a December 2009 high of $1126 per ounce before summertime, and silver will also be aided over the first two quarters of the year by a weakening dollar and higher levels of fear among US consumers and investors.
Degraaf and others also pointed out today that the monetary base of the United States is growing at an incredibly scary rate, like nothing we’ve ever seen before. Many believe that our government is trying to do what is called “soft default,” which is an intentional way of devaluing currency (by overprinting) to devalue debt in that currency. Since gold and silver have direct inverse ties with the greenback, don’t be surprised to see substantial gains in the yellow and white metals around the same time you hear about higher deficit limits or a lower dollar index.
If you feel dollar-heavy and you want to protect your spending power from soft default and the possible collapse of the dollar, contact GoldSilver.org today for our award-winning investment tutorial and free advice from the sharpest minds in the gold and silver industry.
