You may have noticed some all-time highs were just reached in the commodities markets. Spot gold briefly reached $991 per ounce yesterday morning (intraday). It settled substantially by the closing bell, but the bull market in commodities is far from over. Meanwhile, crude oil futures spiked to nearly $106 per barrel. And the futures market for wheat was recently bid up to an unprecedented $25 per bushel. When I last checked, the US Dollar Index had sagged down to an alarming 72.66! Spot silver, while not at an all-time high (because of the extraordinary highs set during the Hunt Brothers-inspired silver boom of the late 1970s), touched $21.10 per ounce yesterday morning. I have been urging my readers to buy silver since February of 2001, when spot silver was $4.55 per ounce. Pardon me for saying this, but I told you so.
Note from JWR:
