New Highs for Silver and Gold

Silver Again Breaks Record
Spot silver hit a 30-year high, ending Friday at $21.46.
Silver is up 3.3% for the week.

$1300 Gold Reached
Spot gold hit a fresh record high Friday, finishing the week at $1297.00
Gold is up 3.8% in September, gaining 1.6% this week.
U.S. gold futures attained the $1,300 / oz. level for the first time.

Gold often trades disproportionately and inversely from the Dollar and the recent announcements by the U.S. Federal Reserve to readily stimulate the economy with increasing cash has caused the world value of the Dollar to decline.

The world markets are concerned that “quantitative easing” by the Federal Reserve along with the announced purchases of U.S. government debt will cause the aggregate number of Dollars in the market to increase without any corresponding increase in U.S. productivity. Markets seem to react under the belief that this Federal Reserve action is both destructive to the purchasing power of the Dollar and raises the potential of increased inflation in future years.

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