Hello Gold and Silver bugs! This is the first installment of something I am trying, a weekly post on the gold and silver markets. Should be published every Friday but who don’t hold me to that quite yet, sound good?
Notables:
Syria: According to the Wall Street Journal online, the U.S government has lowered the urgency of possible military action against that country, a possibility that has existed since a chemical attack on Damascus believed to be carried out by the Syrian Regime. Apparently a diplomatic solution is the works and that if the Syrian Government agrees to give up their chemical weapons then a military strike by the U.S and other countries would not occur.
The news of another war/military action by the United States seem bullish for gold and silver in the past few weeks however this more recent news seems to be partially responsible for the gold and silver price falling. If the U.S does strike Syria then it would be bullish for gold and silver.
U.S Federal Reserve
Another notable that has brought gold and silver down to a low of $1363 CAD and Silver $22.44 is the expected easing of stimulus by the U.S Federal reserve.
Week End Rebound
Prices have already started to rebound nicely heading into the weekend market close. Silver is currently at $23.04 and Gold at $1374.82.
Gotta Fly – Aaron