Precious metals have continued their climb into record territory. As of today, gold will fetch you over $1500 an ounce and silver over $46 an ounce. It's hit the headlines of major news outlets, here's a story from the WSJ.
For those of us who have been watching precious metals for a while, these are both pretty amazing. Maybe not surprising to some, but certainly exciting to those who have invested in PMs. It's probably not a good time to buy into either - they both feel artificially high to me, at the moment, but that's just my take, which may be completely off. We may see an adjustment in the next few days, or PMs may continue their march upward. A lot of it depends on continued uncertainty, which sees no signs of abating. There's also some speculation and hype building up the value of gold--its rise has been getting a lot of press, which has increased investors demand--it's just hard to know how much.
Meanwhile, fuel and other commodities are creeping higher. We're at almost $3.70 a gallon here...I'm worried we'll be back in the $4 gallon territory soon, as we were in 2008. Our economy is still in recovery mode; it won't take a whole lot to put us back in the death spiral. And Donald Trump is running for president.
Crazy times. Good luck.
