Gold and silver prices continue to consolidate recent gains after gold was pushed back under the critical 200 day moving average early in the week. The metals sold off this morning ahead of the release of today's FOMC minutes, with gold trading as low as $1245 and silver as low as $18.18. Both metals quickly recovered all losses once the FOMC minutes were released, as a 150 point plunge in the dollar/ yen pair sent gold prices quickly up $10 to $1257 and silver up .15 to $18.35. Silver, in particular, looks extremely strong and ready to break out to the upside. Silver looks set to become explosive one way or another very soon, as COMEX open interest has surged to nearly 220,000, only 5,000 contracts away from the all-time record of 224,540.
Beware of fake silver. Thousands of counterfeit silver coins are coming out of China every month. The fake coins include Greek Drachmas and British Crown coins as well as US coins such as Morgan silver dollars. It appears from these photos that all of the fake silver coins are counterfeit rare/numismatic coins. Therefore, the coins are being passed as high-quality rare/numismatic coins, and not purely for their “silver” content.
How Can the Average Silver Investor Protect Himself From Fake Silver Coins? Read more here: http://www.silverdoctors.com/silver/s...
A chemical attack in Syria killed at least seventy-people on Tuesday. Trump says the Syrian government is to blame for the attack. Syrian President Assad denies responsibility. “My attitude toward Syria and Assad has changed very much.” Russia is siding with Assad and said Syrian rebels are to blame. The US, France, and the UK are demanding the UN investigate the attack. But Russia could veto such an investigation. All eyes will be on Trump’s response in the days ahead.
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