by Mike Gleason, Money Metals:
Coming up on today’s program we’ll have a special report on some important new developments in sound money legislation at the state level. Be sure to stick around to find out which states are in the process of advancing the cause of restoring gold and silver as money. First, though, let’s take a brief look at this week’s market action in the precious metals.
Gold and especially silver succumbed to heavy selling in the futures markets this week. Gold is getting hit for a 2.8% weekly loss as of this Friday morning recording to bring spot prices down to $1,202 an ounce. Silver is suffering a 6.1% smack down this week and currently trades at $16.96. Meanwhile, platinum prices got pummeled by 5.8% as the automotive metal now sits at $943 per ounce. Palladium is holding up somewhat better than the other white metals and is down 3.3% since last Friday’s close to trade at $751.
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