Silver Price Enjoys Strongest One-Day Gain In 15 Months
GoldMoney News Desk | Apr 26, 2013 07:21AM ET
Gold and silver have staged a decent comeback over the last couple of days, with gold up by around $40 since Wednesday, while silver yesterday recorded its strongest one-day price gain in 15 months – gaining more than a dollar per ounce.
Industrial commodities have also enjoyed gains over the last few days, while the dollar softened yesterday, though the Dollar Index still remains comfortably above 82.00. More appalling eurozone economic indicators – yesterday we learned that unemployment in Spain during Q1 was an eye watering 27.2% – could lend support to the dollar.
The tidal wave of newly-printed central bank money entering the banking system continues to lift equities, with America’s S&P 500 closing yesterday just eight points shy of its 1,593 record. And it’s not just banks and hedge funds shoving these markets higher: as Bloomberg reports, some handy new calculations – brings to mind Goodhart’s Law: “When a measure becomes a target of policy, it ceases to be a good measure."
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