Gold Hits $1300, Silver Surges To 3-Month Highs As China Ponzi Unwinds
by Tyler Durden
ZeroHedge.com
06/19/2014
But, but, but… Janet Yellen didn’t say precious metal valuations were within historical norms? Gold and Silver are surging today (and have done since the FOMC press conference all-clear) with the latter having its best day in months and back at 3-month highs… Intriguingly, just as we warned, gold and silver have been on a significant tear since the Qingdao CCFD probe began (as synthetic hedges are unwound – which dominate pricing in PMs) while copper and iron ore and so on have all fallen (as the reality of no real demand leaks into these commodities).
The Rest…HERE
