Silver Reaches New 31 Year High At $38.50/oz - Backwardation Ends But COT Data Is Bullish
4 April 2011, by GoldCore (Zero Hedge)
The positive momentum of gold and silver continue with both higher in European trade as oil prices have risen due to geopolitical tensions in oil rich nations and the euro has fallen on Eurozone debt concerns.
Focus will be on interest rates this week with the ECB likely to increase interest rates and renewed speculation as to whether the Federal Reserve will attempt to increase interest rates or embark on QE3. Contrary to some misinformed analysis, rising interest rates will be bullish for gold and silver as they were in the 1970’s.
Thursday, March 31, 2011
legendary investor and commodities king Jim Rogers says to day on a CNBC interview that he is still bullish on Silver and Gold and that the bull market has still a long way to go : : ..." I just bought some gold and silver last week , not a lot but just for a variety of reasons , if they go down I am gonna buy more yes , the bull market in Silver has a long way to go ....paper money is being debased all over the world , no paper money is sound , virtually no paper money is sound anymore we're having shortages developing in silver , a lot of speculation ...no the world a lot more inflation a lot more currency debasement , don't sell your silver ..."
.Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendry investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.