We hope you locked in your gold and silver bullion immediately when we updated you Friday night that S&P had downgraded the US.
APMEX has taken the unprecedented move of SUSPENDING all gold and silver sales until 15 minutes after Asian trading opens Monday morning (6pm EST Sunday).
Upon attempting to checkout the following message is displayed at the APMEX checkout:
"*Attention – Due to the uncertainty in the global precious metals markets, we will not be able to accept any additional orders until the global markets re-open in Asia. We expect to be accepting orders around 6:15 pm EST. Sunday August 7th, 2011, following the market open."
One thing is certain.
Gold and silver are likely to make a MASSIVE MOVE on resumption of trading.
Personally, I don't see how the move can be anything but to the upside. (What are traders looking to avoid risk going to turn to- Treasuries?)
We welcome your thoughts,
Will tonight turn out to be EPIC?