New York (April 24, 2013)—In recent days, gold has been on a roller-coaster. It hit a low of $1,321 an ounce in mid-April – a drop of nearly 11 percent since its April high and 25 percent lower than its historic high in August 2011 – then rebounded to stabilize at around $1,400. When the price drops, however, it can also signal a great opportunity to buy.
The sell-off in silver saw the price drop about 16 percent in April, and it currently down year-to-date 24.65%. Silver sits over 60% percent lower than its recent high of $48.70 in April 2011.
Regardless, silver seems to taken an over-reacted beating and underpriced taking one of the largest beatings since the 1980’s, and it has plenty of room to go much higher. This represents a great time to buy.
A day after Fed chief Ben Bernanke told Congress that he "doesn't pretend to understand gold prices," gold experts weigh in with some explanations for what could drive the price of the precious ...
It looks like China, already the world’s largest gold producer, is also buying all the Western Gold that it can get its hands on, having imported over 114 tons in December – a record. ZeroHedge observes that once again, the price of gold dropped precipitously in December as liquidations took place to meet margin calls,Continue Reading …
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