4:06 am (Hawaii) No clock alarm here. I was up by 3:45 or so to find some interesting charts for Spot Gold, Silver and the US Dollar. This was not what I expected, but that's just fine. (I actually expected/still expect a summer decline in precious metals that will allow me to convert my disappearing fiat currency into metals.) Silver just ran from roughly 35.35 to 36.05 in less than two hours. This came after a gradual overnight decline overseas. Gold went from about 1534 to 1546 in that same time span. Why?
USD tanked from 75.88 to 75.44 simultaneously. Why did it stumble? Is it about Europe telling Greece this and that? Maybe. The pressure caused by global debt crisis concerns is not going to ease overnight. Maybe not for weeks and months. Years.
Reuters: Europe tells Greece: agree to austerity, get more loans (June 20 2011)
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