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Gold and Silver Continue to Edge Higher in PriceBaton Rouge Gold and Silver

7-11-2014

Gold and silver prices have risen to fourteen week highs as European stock markets have fallen lower and the dollar showed signs of weakness after the Federal Reserve minutes were released. Gold jumped 1.3 % to a peak of $1,345 per troy ounce, while silver jumped as much as 2.3 % to $21.55 an ounce. Both metals have shown strong surges since June, with gold rising 8 % and silver up 16 %.  One could argue that the precious metals are recovering from an extended bear market that silenced many precious metal bulls. Meanwhile the stock market continues to reach new high after new high. However when a market like gold or silver appears oversold or underfollowed is when big swings to the upside can occur. It seems that when the market majority is of the general opinion that the bears cannot be beaten, is the moment that the market turns bullish. Also, when most everyone seems to feel that an investment is a no brainer, this tends to be a good time to exit that market as a sharp decline is likely to follow. Considering the above trends, it is of this author’s opinion that gold and silver may have reached the end of their bear market corrections and are looking for room to run upward into a new bull market trend.  Retail activity in Louisiana, especially the Baton Rouge market has continued to pick up steam as more people seem to be protecting their wealth in physical gold and silver acquisitions.

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