Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
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Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) Rise as Gold Prices Today Rebound
It was only a matter of when and not if, gold prices were going to resume their upward move, and it appears the temporary correction in gold may be over, and gold miners like Eldorado (NYSE:EGO), AngloGold Ashanti (NYSE:AU), Novagold Resources (AMEX:NG) are participating in the rise in gold prices today. We can’t be certain the gold correction is over yet, but the news Ireland is going to be