The Futures Board Seein’ Red
The cooker is on full-bore on Europe as the news of the contrived crisis keeps growing worse. The sentiment overnight was down as the futures board is seein’ red. Silver fell through $29.00 last night which was no surprise for this volatile metal. Platinum is again below $1500 as the ratio between gold and platinum rests at right around 1, with gold well below $1600. Silver bullion fell to $28.75 in the overnight. This is about a 5% price decrease in about one day.
In Euros the price of silver is $22.40, up slight per the last 24 hours.
Look at this chart for the S&P500:
Let’s see what happens in Europe and if those printed Euros come into dollars. The S&P500 is obviously experiencing major upward resistance at that 1350 level. This is throwing all sorts of questions at the validity of the Euro but a Euro-type concept will persist into the future as that is what political and financial elites in Europe would like. There is no talk from U.S. officials regarding the Euro issues. The U.S. has been silent.
Silver right now sits at $29.04.