Are Gold and Silver Capped Until After U.S. Election?

Posted by Wealth Wire – Friday, October 12th, 2012

Get the whole story here:http://www.wealthwire.com/news/metals/3992?r=1

According to the Wealth Wire: “Gold edged up $4.60 or 0.26% in New York yesterday which saw gold close at $1,767.50. Silver climbed to a high of $34.33 and then fell off and finished with a marginal loss of 0.12%.

Gold has seen volatile and choppy trading overnight in Asia and in Europe this morning with the price being capped at $1,772/oz and in a tight range between $1,767 and $1,772/oz. 

Gold remains robust in euro terms at €1,364.50/oz and remains less than only 1% away from new record highs in the single currency (see chart). 

Credit Wikipedia

India and China are embarking on their peak consumption season which may create a boost to the physical market.

The far from resolved debt crisis in Greece, Spain and most countries in the western world means that this is another correction and investors and store of wealth buyers should continue to accumulate on the dip.

Prices may remain contained until after the U.S. election but we expect that soon after the election (we expect Obama to be re-elected), precious metal prices will again surge. Indeed, from November into the early months of 2013, we could see one of the largest upward price movements in gold and silver so far in their bull markets.” 

See the rest of the story here: http://www.wealthwire.com/news/metals/3992?r=1