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In reply to the discussion: SOMETHING is going on in the market. Re: precious metals. [View all]
ret5hd
(22,151 posts)this rise in the price of gold is despite the fact that Russia has sold China almost $2 billion (with a b) worth of gold in the last couple months...and that is just what has been reported. more than that is suspected.
so, despite the fact that Russia essentially dumping gold on the market (yes, I realize these sales aren't exactly "on the market", but they are filling a market that presumably would have been filled from other sources)...gold has gone from about $2600/oz to $4500/oz in about a year. Who knows what it may have been without these sales.
An aside: it seems to me China is hoarding gold for a big economic collapse. But that is an uneducated opinion.
Silver from about $30 to $80 in the same timeframe, but silver looks MUCH more parabolic in this one year timeframe, so I kinda think silver may "crash" back down to $50 or so.
anyway, just some idle thoughts.
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