The rise in the price of gold came as good news after the big dip in gold price yesterday when it fell by $42.42 down to $1474.04. This was one of the worst drops for gold since last November amid a very volitile day for commodities.
The drop in silver price was much more substantial for investors as it represents nearly a 12% loss in price. The drop thursday was in fact the largest drop for a single day since October of 2008. For the week the price of silver has fallen off about 27% or $13.16, representing the worst perfromance for the metal since 1980.
For some investors, however, as gold continues toward a forcast plateau around $2000 per ounce, the recent drop in silver may represent a good opportunity to get in on silver. Analysts expect that once gold reaches its top end, the price of silver will continue its climb. Recent reports expect to see silver up to $150 per ounce before the end of the year, despite its recent fall.
gold silver news today may 6 2011
Gold, Silver Prices Free Fall on Dollar Rally, Margin Hikes
Gold for June delivery plummeted $33.90 to close at $1,481.40 an ounce at the Comex division of the New York Mercantile Exchange, but has fallen as much as $45 in after hours trading. The gold price has broken through $1,500, trading as high as $1,522.10 and as low as $1,471.80. The spot gold price was down almost $50, according to Kitco's gold index. Read More...
Silver ETF Up 5% As Gold Extends Gains; Barclays Sees 'Short Correctio
The dollar had surged on Thursday as commodity prices were hit hard. But the greenback has given up its advances after the Labor Department's unexpectedly strong report showing that the US economy showed its biggest job gains in nearly a year. Silver. Read More...
Silver Heads for Biggest Weekly Drop Since 1975; Gold Rebounds
Further silver price falls are possible.” Silver assets held in ETPs tumbled 3.6 percent to 14546.99 metric tons yesterday, the biggest decline since Jan. 2, 2008, while gold holdings fell 0.7 percent to 2057.08 tons, the biggest drop in three months. Read More...
China Buying Silver Overnight, Prudent Money Holding and Accumulating Bullion
The usual gold and silver bubble callers are out in force once again and it is interesting how there appears to be more coverage of gold and particularly silver now than there was with prices rising in 2010 and early 2011. Indeed, mere rumours that..Read More...
3 Myths That Will Pop the Gold Bubble
One of my favorites is an off-the-cuff remark he made in a recent interview with Ben Stein: You could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices Read More...
Gold and Silver Report - A Little Off the TOP, But Don't Touch the Sideburns
Awash in a sea of red, the price boards showed a $43.40 drop in gold, a $4.74 (12%) collapse in silver, a $54 implosion in platinum, and a $34 cave-in in palladium. However, the precious metals were not the only ones to reflect the massive selling wave Read More...
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