17 January 2010

Precious Metals @ 15 January

Yeah, yeah...
I'm a Pilot, not a psychic...
(I started to say financial/economic expert, but many of their predictions have been worse than mine lately.)
No one can predict when the bottom is going to fall out of our economic bucket, but it is become obvious to more and more "experts" that the Obama administration has a tightrope to walk, and at any moment circumstances could shake that tightrope. Yes, this problem is the result of years of mismanagement. But no sane person can argue that it can be fixed by doubling or tripling the mistakes made by those previous administrations. WE MUST FIX THOSE PROBLEMS. Unfortunately, it looks as if the resolution to the problem will be forced upon us by the laws of nature, rather than some wise leader pointing the way to the correct path.

Metals prices continue to moderate. I think they'll remain "relatively" stable until inflation rears its ugly head, then they'll take off. So if you agree with my prediction, this is still a good time to start purchasing precious metals.

At Friday's close, the spot price for Gold was $1131.00, down from the $1138.70 close a week ago.
Silver closed at $18.42, down from $18.51 last week.
Both are still UP CONSIDERABLY from a year ago.

It's an interesting market to watch.

No comments: