Silver seems to be on a bit of a tear this morning. Anyone care to speculate why we are seeing such a dramatic jump today?
is it possible it's the whiff we are getting for QE3 (or QE4 depending on how you number the easing programs). i heard on CNBC that in the next fed meeting, they plan on mentioning the next potential QE program and it could get implemented as early as this summer. however you know how rumors go ... here one minute ... gone the next it's interesting how silver greatly outpaced gold ... i think that is probably due to Silver's higher "beta" ... that is silver moves more than gold (both up and down) ... when things appear to be heading up ... silver will pop more (and on the downside it will drop more)
I don't know the reason, but it's nice to see it moving 1 way or the other for a change. When it's in a trading range like it was, it's Snooze City and it's difficult to do anything. I like to be either buying or selling. Whatever is causing it, I wouldn't mind seeing it continue.
If you want to see the detail of what's going on daily with the gold and silver COMEX take a look here - harveyorgan.blogspot.com/
Great link, thanks Smitty! I also think fear of Greek default is still a factor. I agree that it's nice to see it move for a change, it had traded in that 27-30 band for quite a while.
I was hoping it would stay down for a while because there is a coin show in my area next week. I might have to buy a little less silver than I expected.
This is probably one of the best blogs out there if someone wants to understand how gold and silver futures affect pricing.
