Once again today we’re “up” on lower prices than yesterday.
In early trading gold was up $4.05 to $1,739.70 and silver was up $0.13 to $32.80, with the silver/gold ratio creeping up to 53.
What a strange trading pattern we see developing this week as European equity markets are flying on the news of progress on a bailout plan for Spain. The news sent the euro on a run against the dollar, which usually has an immediate and positive impact on gold prices, but not lately.
Gold prices have moved stubbornly lower, often in...