The Precious Metals Bull Market Continues
I was gratified to see that the spot price of gold went to a 17 year high ($459 per ounce) yesterday, while silver closed at $7.21 per ounce. (See my metals price ticker.) I expect some brief profit taking for a few days (and perhaps into October–which has traditionally been a weak month for precious metals prices), but then the metals bull will probably resume his full-tilt charge in the winter. How high will the top be? Who knows… But consider that when adjusted for inflation, the $805 top that gold saw 25 years ago would equate to around $2,200 …