All things silver.

www.theaustralian.com.au/business/markets/gold-lifts-more-than-two-per-cent/story-e6frg916-1227125372786


GOLD and silver prices have risen to a two-week high as a rush by investors to cover bets on lower prices accelerated a rebound in both markets.



Gold for December delivery, the most active contract, rose $US24.10, or 2.1 per cent, to settle at $US1,185.60 a troy ounce on the Comex division of the New York Mercantile Exchange. This was the highest settlement since October 30.



Silver for December delivery rose 4.4 per cent to $US16.314 a troy ounce, also the highest settlement since October 30.



Gold fell in morning trade, luring some price-sensitive buyers into the market, but the modest rebound quickly turned into a surge.



As prices crossed above $US1160 an ounce, bursts of high-volume trading indicated that stop-loss orders were triggered, said Thomas Capalbo, a broker with Newedge in New York. These automatic buy orders are designed to limit losses by closing out a bearish position if the market moves above a predetermined price level. “Everyone is looking at the same charts and the same indicators so people are going to put their stops in the same places,” Mr Capalbo said.



Gold prices have been moving lower for several weeks, and some investors were choosing to lock in gains on their bearish bets ahead of the weekend, said Bob Haberkorn, a senior commodities broker with RJO Futures in Chicago.



“You have two days when the markets aren’t going to be open, and people are hesitant to keep large positions open in case something happens,” Mr Haberkorn said.



Other bearish traders were likely forced to close out their positions before their losses stacked up too high, he said.



Moreover, next week is due to bring a string of US economic data and the release of the Federal Open Market Committee’s minutes from its October meeting, giving investors fresh insight into the Federal Reserve’s October monetary policy decision. Gold doesn’t earn interest and costs money to store, making it unattractive should the Fed begin raising interest rates.

Yep, interesting time in the metals world at the moment. Ups and downs but an overall downward trend, but the aussie dollar falling at the same time (good or bad depending on which side of the fence you sit). Bit different to the $2000/oz they were predicting a couple of years ago

Sorry $2000/oz for Gold was what the "experts" were predicting

Have faith, it will get there.  I remember gold being at around $400/oz look at it now.  Wages have NOT increased as much as gold has.  At least not amongst the people I know.

Yeah, the economy is in the toilet.

Good time to buy silver though.

Anyone watching silver ?

Rallying at tad, but saw it at $14.58 earlier - that's US$. Silver Stackers is going nuts!! And the Swiss have just voted. "Swiss Gold Referendum Fails: 78% Vote Against "Protecting The Country's Wealth". That didn't stop The Netherlands from repatriating their gold from the USA though. Interesting times.

Love eagles. Bit of a run on them a couple of weeks back. Eagles and maples.

I read on a USA website that the 2015 kookaburra 1oz will be one to collect due to small mintage. I came across a new coin last week - Canadian? That was 1.5 oz - the first of that weight minted.