wild closing prices thursday 4/22/04 for gold silver and platinum

[michael]

gold 394.00

silver 6.03

platinum 851.00

 

how low will it go?

the powers that be do not want them higher?

 

whats in your wallet

 

michael

 

edited as i put friday 4/23 and it was only thursday 4/22

thanks jtry!! i will have to be more careful next time

[jtryka]

michael, I don't mean to be picky, but today is Thursday the 22nd. As for what is going on with the metals, I think a lot of it has to do with rising interest rates, which have both a positive and negative effect. Negative in the sense that other interest/dividend bearing investments become more attractive than gold which has no cash inflows (When interest rates are near zero as they are now, it's not much to give up the 1% interest to buy gold). Higher rates also increase the value of the dollar relative to other currencies, which can also be bad for gold. On the positive side, higher interest rates could spawn higher inflation, which would be good for gold. Increasing economic activity is already driving prices higher for commodities in anticipation of higher demand. Overall, I view recent activity as a classic correction, so I am not worried. Could the cabal be at it again? Sure, I don't think they really gave up, but we'll see (yes, I do believe in at least parts of the gold conspiracy theory! ). As for what's in my wallet, $35, a bunch of plastic cards and some receipts.