WORLD GOLD INDICES

Gold Seeker Weekly Wrap-Up: Gold & Silver End the Week Back Above $650 & $13 By: Chris Mullen, Gold Seeker - Gold remained near unchanged in Asia, rose about $5 to over $650 in London, and rose to about $655 in late morning New York trade before it fell back off a bit into the close, but it still ended with a gain of 0.91%. Silver rose to $13.15 in late morning New York trade before it also fell off a bit, but it was able to outpace gold’s gains and added 1.16% at the close.

COT Silver Report - March 16, 2007

Today, 2 billion oz of silver is arguably gone, consumed at roughly 100 million oz per year by industrial demand hence. The 600 year silver chart clearly shows that silver price has been on a downward trend as fiat rose to power as money. When monetary demand for silver and gold return in the inevitable bust of the current epic fiat credit boom, one needs to consider that the total value of all available supply of silver is miniscule compared to supply of gold, and supply of gold is miniscule compared to the supply of fiat.