by Alasdair MacLeod
Gold Money
Behind precious metal markets is new evidence of growing European investor demand at the retail level, while Comex deliveries continue at an elevated rate.
[…] It has been a week of new highs for gold, and silver appears to have broken out of its torpor only this morning. In European morning trade, gold was $2938, up $98 from last Friday, and silver was $33.30, up $1.55 with most of the rise occurring today. The jump in silver is attributed by analysts to strong Chinese PV demand, Indian-pledged PV investment of a further trillion rupees by 2030, and Indonesia promising to adds 17 gigawatts of solar energy through state-owned enterprises.
More importantly, silver has conquered a crucial chart level at $32.50: