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Reno Chris

Gold Hits 11 Week High

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On Friday, gold closed at the highest price it has been in 11 weeks. It seems like forever since gold has been at $1400, but its only been 11 weeks or nearly 3 months. Fridays roughly $25 gain came just almost in an instant when US home sales were reported as being much less than expected (probably due to higher interest rates). See: http://www.marketwatch.com/story/gold-futures-rise-but-dollar-treasurys-weigh-2013-08-22

 

Many "experts" are still talking down gold and silver, and there are a lot of big money investors and hedge fund experts who are still short gold and silver - expecting them to go down again. If the metals continue to go upward, they will be forced to buy in to close their short positions, raising the price even further (this is known as a short squeeze). This week Dennis Gartman, an "expert" on gold who often appears on TV said he bought gold mostly because there were just too many people betting against it. see: http://www.kitco.com/ind/GoldReport/2013-08-21-Why-Is-Anti-Goldbug-Dennis-Gartman-Getting-Into-Gold.html

 

Only a few folks are hesitatingly saying that the bottom may be in for gold and silver, and the low of $1175 for gold a couple months ago may be the bottom of this correction. We seem to be moving upward!

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Has anyone/have you heard about this site, [advertisement removed by moderator]? It looks like they
offer silver eagles at spot

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