Talking Bitcoin, Gold And Silver

A momentous thing just happened -- Bitcoin breached $1,000.

Is it a bubble? Who knows, but one thing is certain, you can buy a lot more gold and silver with one bitcoin than you could a year ago.

Fiat Alternatives
There are many parallels between bitcoin and gold, both are alternatives to fiat money, both are faceless currencies and both have limited supplies. However, in the last two years one has seen its price climb from $7 to $1000, the other has fallen from $1,900 to $1200.

Which begs the question: is bitcoin is the new gold?

Gold and Silver : 20 ‘Tough’ Questions for Eric Sprott

Eric Sprott founded Sprott Asset Management LP in 2001. Sprott Asset Management is an independent asset management company headquartered in Toronto, Canada. The company manages the Sprott family of mutual funds, hedge funds, physical bullion funds and specialty products and is dedicated to achieving superior returns for its investors over the long term.

Eric Sprott recently answered a number of questions on the minds of gold and silver investors, and we hope you’ll find his insights valuable.

Gold and Silver Prices Outlook for June 3-7

Gold and silver didn’t do much on a weekly scale as gold inched up while silver slipped. Their unclear trend coincided with the developments in the currencies markets as the Euro rallied against the USD while the Aussie dollar and Canadian dollar depreciated during last week.  

Last week, several U.S reports were published: GDP for the first quarter was slightly revised down to a growth rate of 2.4%; pending home sales rose during April; jobless claims increased by 10k to reach 354k. By the end of the week China’s manufacturing PMI was published, in which the index inched up to 50.8 in May. This news may help rally commodities prices next week. 

Will precious metals bounce back this week?  

Gold and Silver Prices Outlook for June 2013

The high volatility in the precious metals markets eased down during May after the high movement they have had during April. The recent publication of the minutes of the FOMC meeting from back in May and Bernanke’s testimony in Congress rekindled the speculations around the Fed’s next move; specifically, whether the FOMC will decide in the near future to taper its $85 billion a month asset purchase program. 

Gold and Silver Prices Outlook for May 20-24

Gold and silver continued to trade down during last week. Their sharp fall coincided with the depreciation of leading “risk related currencies” such as Euro and Aussie dollar against the USD. Moreover, the ongoing rally of U.S equity markets is also contributing the decline in demand for bullion as an investment.  Last week, U.S retail sales edged up by 0.1% during April. On the other hand, Philly Fed index fell in May; housing starts sharply fell by 16.5% in April; jobless claims sharply increased by 32k to reach 360k; the PPI fell again by 0.7% during last month.  

Will gold and silver continue to trade down this forthcoming week?  

Bull Market Ended?

Has the Silver and Gold Price Bull Market Ended?

Silver and GOLD PRICES were humiliated again today. Silver dipped 30.4 cents to 2233.9c. Gold dove $22.20 to $1,364.90. No sign yet of turning round.

However, silver's lows yesterday and today ran about 2206c (different charts give different figures). That's enough to call it a double bottom with the 2200c low on 15 April, but not enough to say it won't drop lower. It will have to show that next week.

Silver and Gold Prices Both Fulfilled Yesterday's Suspicions by Dropping Today

Silver and GOLD PRICES both fulfilled yesterday's suspicions by dropping today. Gold slumped $25.90 to $1,446.30 while the SILVER PRICE backslid 83.9 cents to 2330.5c.

First Half of Key Reversals

Silver and Gold Prices Posted the First Half of Key Reversals Today

Gold Price Close Today : 1,453.60

Gold Price Close 19-Apr-13 : 1,395.30

Change : 58.30 or 4.2%

The Gold Price Gained... What is the Bigger Message Markets are Sending Us?

Cannot tell anything from bounces the silver and GOLD PRICE made today. A dead cat dropped from the 2nd story might have done as well. Gold gained $26.20 to $1,386.80 while silver rose 26.7c to 2362.2. The GOLD/SILVER RATIO, however, is only very slowly rising, today at 58.708.

At this point, another leg down is possible, taking the GOLD PRICE to $1,250. 

The Gold Price Broke it's Two Year Support and Must Turn Up Next Week

beforeitsnews.com/gold weekly price

Gold Price Close Today : 1,501.00

Gold Price Close 5-Apr-13 : 1,575.40

Change : -74.40 or -4.7%

INTERVIEW: 'Next Three Years Are Going To Be Exciting' – Silver Wheaton CEO

By Alex Létourneau of Kitco News

Friday March 22, 2013 3:11 PM

(Kitco News) - Fresh off reporting strong fourth-quarter and full-year results, the future looks bright for silver stream company Silver Wheaton Corp. (TSX, NYSE: SLW), according to the company’s president and chief executive officer.

“The next three years are going to be incredibly exciting for our company,” said Randy Smallwood in a telephone interview with Kitco News. “We’ve got so much organic growth that’s going to be coming on stream.”