Precious Metals Market Report – 1.12.12

Catherine, The Solari Report on January 12, 2012 at 8:01 am · No Comments

Precious Metals Market Report


By Catherine Austin Fitts

This week Franklin Sanders and I will provide a wrap up for silver and gold in 2011 and our outlook for 2012.

We will review the most important events in 2011 and make our price predictions for 2012.

Volatility was the word that defined 2011. Silver started the year at $30.67 rose to a high close of $48.70 at the end of April and then dropped, closing the year down at $28.18 .

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Gold started the year at $1388 then rose to a high close of $1895 in August and then dropped in the fourth quarter, closing the year at $1531.


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This means gold has closed higher every year since the beginning of the 21st century. Somehow it did not feel so wonderful with the price plunge in December, coming on the heals of MF Global’s assault on customers accounts and the commodities futures market. Those who bought during the highs this year were more than frustrated.


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A review of price corrections over the last decade helps put this last correction in perspective.  Gold’s 20% price decline from August through the end of the fourth quarter of 2011 compares to a 22% correction in 2006 and and 29% in 2008.


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We will start with Money & Markets and Franklin’s update on the gold and silver markets. Franklin and I will focus on questions on precious metals. Post your questions in the comments section for this blog post.

In Let’s Go to the Movies, a comment on Cedar Creek Productions wonderful documentary Buck, about horse whisperer Buck Brannaman.


YouTube
Buck

Talk to you Thursday!