Gold & Silver Keep Chugging: But a Top In Sight?
Nymex spot gold closed at $586.70. Spot silver closed at $11.71. The run up in metal prices reminds me a lot of what happened to the energy stocks last year. The big question is where are we in the cycle. A short term top in energy stocks occurred during the weeks following Katrina (September 30th). Some energy stocks still have not recovered since. So is March 30th the top in metals? I doubt it but I have been wrong before.