• Gold: 1,525.51 -3.03
  • Silver: 17.37 -0.09
  • Euro: 1.113 -0.001
  • USDX: 97.64 -0.647
  • Oil: 53.65 -1.71

Rock and a hard place

Andy Hoffman
Tuesday, May 13th
SilverSeek.com Comment Wire


Each day, my belief that the Fed is actually supporting interest rates - specifically, the 10-year yield at multi-month support at 2.6% - grows stronger, via the "most damning proof yet of QE failure."  Today's abysmal retail sales number clearly has them under pressure again; not to mention, the horrific Chinese industrial data and German ZEW investor confidence numbers.  The ECB again leaked its leaning toward launching QE at next month's meeting; and pretty soon, it will be the Fed's turn as well - as they are stuck in the ultimate "rock and a hard place."


Signs of PHYSICAL PM market strain are everywhere - from plunging Chinese silver inventories, to widespread gold and silver backwardation.  And oh yeah, by week's end, a new pro-gold regime will likely be in charge in India; which may well cause an end to last year's suicidal PM tariff increases in the near-term.


Andrew C. Hoffman, CFA

Marketing Director

Miles Franklin Ltd.





@SilverSeekWire on Twitter


Your rating: None Average: 3.7 (10 votes)

Article Comments

Sponsored Links

Live SilverSeek Map