Silver moving towards $40/oz. as Ron Paul investigates US MintSubmitted by Phantom on Wed, 04/06/2011 - 04:55
Silver moving towards $40 an ounce as Ron Paul to investigate the US Mint
Silver and gold have been the big winners on April 5th while the economy stagnates on lower manufacturing news. Silver crossed over $39 an ounce, and is just .70 short of $40. Gold however, has gained nearly $20 today and is at a new all time high of $1455. These moves are coming as a new report comes out that Congressman Ron Paul is intending to hold hearings on why the US Mint has silver shortages to sell to the public.
Meanwhile, the dollar is flat, holding just under its open today at 75.83 on the index. Oil is still over $108 a barrel, but is down .21 on today's trading.
One of the reasons for the rise in silver is a report yesterday by Kitco on Ron Paul's investigation into the US Mint. Since the beginning of the year, the US Mint has failed in its mandate to provide silver bullion to the public because of what they deem as shortages in the metal. The Mint's charter does not allow for them to use this reason for not facilitating a market for silver purchasing by the public, and this is the main cause for Congressman Paul to seek answers from the institution.
Continued at the link below.
Collecting my first order of Silver today :-)