The Phaserl


Gold Daily and Silver Weekly Charts – Gold Continues Higher as Miners Outperform

from Jesse’s Café Américain:

Gold continued punching higher after its breakout, but the less talked about story might be the performance of the mining stocks this year, which has been fairly impressive. I have intraday commentary and some relative performance charts on that here.

With silver lagging a bit it looks like a ‘safe haven’ trade so far, and some of it has to be a relief rally from the incredibly pounding that the metals have taken since the Germans asked for the return of their gold bullion in late 2012.  That apparently tipped over someone’s punchbowl, and they unleashed the dogs of currency war. 

Speaking of the dogs of the financiers, I see where the FDIC is suing many of the large banks for their manipulation of LIBOR, based on the premise that in distorting the markets they caused other banks to suffer losses.

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