Wednesday, March 2, 2011

Gold hitting an all time high, and silver at 31 year highs..

The middle east turmoil has finally flipped the switch on uncertainty as the flight to safety in metals is the true barometer of fear. Hitting fresh highs given the current environment constitutes the possibility for a $100 rally in the yellow metal within a matter of days. Granted the potential for silver to out-pace gold has and will continue to be the case. Oil closed at new highs since 2008, and for the most part it is difficult to speculate if anything develops overnight in the middle east. The pit session did stall beneath $100, only to be broken after-hours...

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