Silver

No, it can’t. We’ve read a very interesting essay on gold, VIX (the volatility index) and the safe haven status entitled Forget gold, the VIX is the new safe haven and we would like to share our thoughts about it.

Positioning currently stands at 76,600 net long contracts on Gold and 18,200 net long contracts on Silver…

In our previous essay we took a closer look at the situation in silver and mining stocks (precisely: SLV and GDX ETFs) and discussed how it may translate into the precious metals market.

In our previous commentary we discussed the implications that the most recent moves in the USD Index and the general stock market are likely to have on the precious metals market.

After 12 years of gains, gold has fallen nearly 20% this year.

Trading activity by GoldMoney customers jumped 24% above last week’s levels but this was concentrated in gold where trading rose by 72%.

On Thursday, the S&P 500 closed at a new high and its intraday record of 1733.45 broke the all-time high set Sept. 19.

On Monday, after weekend talks failed to reach a solution that would reopen the federal government and raise the federal borrowing limit by October 17, the S&P 500 Index dropped to its intraday low below 1,700.

The Fed’s mode of operation has drastically changed over the past 12 years.

Last week on October 8th the financial market experienced a broad based sell off. Every sector was down with utilities being the only exception.