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Gold Soars Above $1350 As Silver Crosses 100 DMA

Tyler Durden's picture





 

The reason why gold just did an upward spike move of the type not seen since the summer of 2011, when it exploded higher by $20 in seconds, is clear - as we noted yesterday, JPM is now actively buying up gold in the market to meet delivery demands. That, and countless stops getting hit, helps. But the most important factor: Paulson, Soros et al finally got out of the yellow metal. That meant there is only upside as the latent selling overhand is gone. As for silver: why not...

 

 

and Silver has broken the 100DMA...

 

Charts: Bloomberg

 


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