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Look Out Above for Gold and Silver Prices
By Greg Hunter’s
Gold hit another all-time high yesterday, closing well over $1,450 per ounce. Silver’s closing price of more than $39 per ounce is the highest it has been in 31 years. Why the big jump in gold and silver prices? The answer is pretty scary because there are many reasons precious metals are heading higher. Let’s start with the most obvious —inflation. Kitco.com reported yesterday, “The precious yellow metal got a fresh influx of investment buying based upon heightened inflationary expectations, safe-haven demand and a weakening U.S. dollar index.” (Click here for the complete Kitco.com story.) You can give the same reasons for rising silver prices.
In the case of silver, many experts say it is way undervalued and will outperform gold as Read more…
US Treasurys Dumped, Pimco Sees Value In Emerging-Market Bonds
NEW YORK (Dow Jones)–The valuations on U.S. Treasurys are not attractive in a historical context and Pacific Investment Management Co. is moving money toward emerging-market debt, said the fund’s founder Bill Gross in an interview on Thursday with CNBC.
Reports came out on Thursday that the bond-fund giant had dumped all of its holdings of U.S. government bonds. Gross said better valuations can be found elsewhere, where yields are not artificially boost by Federal Reserve purchasing.
“The overvaluation [in Treasurys] has been dependent on the purchasing power of the Fed,” said Gross, who does not believe there will be a third round of “quantitative easing.”
Pimco did not participate in Thursday’s 30-year auction nor Wednesday’s 10-year auction, Gross said, though both were considered well-received.
The fund still owns about Read more…
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_2.gif)
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