First Finance, Then Debt - What Crisis Next?
NEW YORK (Aug 31) If Syria is to blame for this run, then the world's in very big trouble...
So just like that, there were no sellers in the gold or silver markets. It's been buyers only amongst BullionVault users this week.
New account openings were strong this week too, the greatest number since the April price crash in fact. Cash deposits were also sharply higher, the heaviest since end-June - the week gold and silver hit their second big slump, and bargain hunters on BullionVault got just the crash they wanted.
Since then, silver added a staggering 38% to this week's high. It hadn't moved so fast month-on-month since September last year! Gold is a relative laggard, but it's still put on 20% from the end-June low of $1182.
Yet two whole months into this rally, the newswires and pundits today offer one reason for this jump and 1 reason only: Syria. Which if true, would be a very bad sign indeed.