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April 26, 2006
Metals are precious, Wed., Apr. 26, 2006, 2:20 PM
Two days ago mid-day, I ranted about efforts made by the Fed and the Exchanges to intervene in free markets. I said that their actions are reactions. I said that I didn't care what Bernanke says or does, "There ain't no Fed big enough". I also wrote: "Anyway, this is a marvellous opportunity to jump into precious metals. At least, we know what we're doing."
So, check this out. In the few hours since then, gold is up over two pct and silver is up almost five pct.
And that's why you read this blog. One of the reasons anyway.
I think you are encouraged by just how many times I put my head in the chopping block and not get it handed back on a platter. And so when I say that this stuff is not rocket science, I think many of you are starting to feel empowered.
Power to the Little People.
That's what drives me.
Here is the comparative chart on spot gold (GLD) (in red/black " I can't tell) versus the Toronto Exchange goldminers index (XGD) (in blue) from the time I wrote my article on Monday " two days ago, at a time gold was getting hammered.
And I was saying that traders were getting impatient.
Posted by Posted by Bill Cara on April 26, 2006 02:19:41 PM | Category: Gold
