Thursday, August 18, 2011

DOW Closes Below 11,000, Down 420, SILVER RISES

The DJIA has closed below 11,000, down 420.

Dow Jones Industrial Average

Index Value:10,990.58

Change:Down 419.63 (3.68%)

Silver meanwhile remains UP on the day, up .50, at one point up .70 to $41.02.

While many readers have been discouraged today that silver is up only 1% while gold is up over 2% to $1830, to have silver positive at all on a day like to day is monumental.
This is no longer 2008. Silver is receiving monetary SAFE HAVEN flows along with gold. Silver is responding as a currency, and not as an industrial metal.
Have patience. Silver is building a strong base of support in the $36-$42 level from which it will literally LAUNCH higher when QE3 is officially announced, possibly as soon as the end of the month.

At that point, look for this to happen in silver....