Meltdown 2011

Broken record time: “Silver Hits 27-Year High.” Once again the powerful pewter pummels predictions and hits an intra-day high of $19.51/oz. as reported by Kitco.

Wasn’t it just Friday that it topped $18 for the first time? Yikes. It’s now up 32% this year. (It closed on Dec 31, 2007 at $14.76/oz, London.)

My apologies to Mr. Becker and Mr. Fagen for co-opting their 1980 hit. See it on YouTube and celebrate!

P.S. Did you see how the dollar continues to crash? The US Dollar Index achieved a new all-time low today of 74.10. Ouch, and more to come. As Jim Sinclair says, “it’s going to 52.00.”

◊◊◊◊ Today: Gold @ $957.50, Silver @ $19.24, USDX @ 74.11 ◊◊◊◊

Filed under: Silver & Gold