Analyzing Thursday?s post-Fed announcement market action, Dan Norcini tells King World News that anyone who ?was positioned on the short side of the metals was simply run over when the news hit the wire?. The shorts could not exit positions without paying up.? So we were seeing a violent wave of short covering along with fresh buying from new sources.? There was a relentless flow of new money coming into both the gold and silver markets.?
And while reiterating his decidedly negative view of easing?s impact on the middle class, Norcini concludes that ?from an investment perspective, this is the type of stagflationary environment where gold and silver can continue to soar, just as they did in the 70s.? And in a QE3 overview of the markets, fund manager Puru Saxena writes that ?we have also re-invested capital in precious metals and it is our belief that both gold and silver will appreciate significantly over the following months.?
Related Links:
MarketWatch:? Gold edges 60? higher on Fed glow; silver off 12?
Mineweb/Reuters:? Fed?s aggressive, open-ended QE3 program makes gold a big winner; Gold edges higher on QE, but correction expected
Silver Investing News/SilverSeek:? Silver soars on aggressive Fed action; Silver bull seasonals 2
KWN:? John Embry ? We are seeing mounting shortages of gold & silver
CNBC:? Gold set for even bigger Bernanke boost; Analyst:? QE3 may top $1 Trillion
Reuters/Alt-Market:? New round of quantitative easing may be biggest yet; Get ready for an epic fiat currency avalanche
Bloomberg:? Egan-Jones cuts U.S. rating to AA- after Fed adds to stimulus; Bernanke?s battle for jobs eclipses inflation concerns
USA Gold/24/7 Wall St:? PIMCO?s Bill Gross says buy real assets, like gold, in the wake of QE3; Marc Faber warns of Bernanke QE, also warns on how to own gold
Zero Hedge:? The Fed?s balance at the end of 2013: $4 trillion; Bernanke kool-aid steals Draghi punch ? Spanish bonds slide
Reuters/Washington Post:? Spain urged to clarify aid needs at euro zone meeting;? Financially troubled parts of Europe consider taxing church properties
Washington Times/Salon:? GOP sees Fed move as a ploy in the election; Where?s the gas price rage?
MarketWatch:? Septembers to remember: Same forces at play in Lehman collapse, QE3 rally
Telegraph/The Street:? Era of ?jobs-targeting? begins as Fed launches QE3; The 0% solution: Fed strands bank savers, retirees
Washington Post/Bloomberg:? More Americans opting out of banking system; Jonathan Weil:? Citigroup puts the fun back in taking huge losses
Source: http://silverandgoldcoinblog.com/2012/09/14/qe3-post-mortem-gold-silver-shorts-run-over/
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