As we watch the trading session winding down in New York we can see gold and silver have had a tremendous day, with gold starting out at $935/oz and progressing to touch $950 as we write.

On the positive side for gold we have oil closing at $100.88/barrel and a myriad of billion dollar rescue packages for inept bankers and financial institutions. These actions may well be necessary however they ultimately serve to undermine our confidence in assets of the paper nature (read more…)