Not that silver rise in price, but the value of “money” paper we bring in the bag or “we” in the bank, is plummeting.
The price of silver is “on fire”. At dawn today, after opening the markets in Asia, its stock price shot up to $ 21.13 per ounce (oz.), Its highest intraday level since July 2014. Although immediately lowered to stabilize around 20.50, the truth is the queen of metals is going to attract attention as he had not felt since 2011, when it peaked 31 years to exceed 49 oz.
the Brexit was not bad news for the top two financial havens that exist (when you have physical), gold and silver. It will remain in history as the night the outcome of the British referendum was known, the king of metals was the great giant foot. While most currencies -including the weight- slumped against the dollar, he succumbed to gold.
During the past seven days, rising gold and silver have been 11.39% and 1.96 ; in the last four weeks, 7.89 and 20.74%, and so far this year, the cumulative gain of 26.82 and 43.63 is%, respectively.
Who are catapulting the price of silver? The answer will not surprise the friendly followers of this blog: are the Chinese, because they are buying mass
In fact, early today soared as much (6.9%) the spot price. (spot) that futures contracts on the futures Exchange Shanghai reached their limit.
the rise is explained in the context of capital flight, especially emerging markets, to shelter assets, apparent as the dollar and US Treasury bonds, and real as the duo of monetary precious metals.
Here we have also explained that negative interest rates have begun to impose absurdly some central banks as of Japan and Switzerland, they paid the greatest bull market in gold and silver because they are a form of real money not exposed to loss by way of interest. They are authentic and original form of “cash”.
The Gold Exchange Shanghai (SGE, for its acronym in English) today issued a statement in which it informed its members that because of the enormous increases silver, if during the last five minutes of the session there were only buying positions, increase the current limit of 8 to 11% daily. He also said he would raise the margin requirement to operate from 9 to 13%, and recommended that members take care of the risk position of its customers.
It also should be remembered that the holdings of metal exchange traded funds (ETFs ) and backed silver expanded to a record last month, while gold is at its highest since August 2013.
in Mexico, an ounce of silver Liberty has also shot a maximum of 439 pesos for sale in Banco Azteca, the largest distributor in the country.
As usual, many investors now want to jump on the “bull” bull of precious metals, but the fact is that a correction (low) it is a matter of time. We will have to wait for that moment, for purchase when any asset has been rising usually a bad bet.
This is a more than gold and silver lesson give us as a reminder that the economic situation of the world is from bad to worse. Not that rise in price, but the value of “money” paper we bring in the bag or “we” in the bank, is plummeting.
If the buying opportunity presents itself again . as expected, hopefully no one left that says “I went” because the best of this major bull market is coming
Original text: http://www.forbes.com.mx /la-plata-se-dispara-tras-brexit/#gs.nAervlE
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