There was a sharp selloff in gold and silver last week following the latest government CPI report. Gold dropped below $2,000 per ounce for the first time in months, while silver traded down to the $22 level.
However the dip has been short-lived, as prices rebounded in the following days. And perhaps most significantly, the gold price was quickly back over the $2,000 mark. Which had served as resistance for a long time, but continues to act as a floor.
Andy also comments on the drop in M2 money supply growth, the divergence between foreign nations’ treasury and gold buying trends, and the other news in the precious metals space in the past week.
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