Silver soars the day after LA mystery missile launched

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Silver and Gold have been marching up for the last several weeks, hitting 30-year record highs day after day… but today they jumped substantially. Gold was up $7.25, and silver up $1.58 from yesterday’s close.

Silver is up over $11 per ounce from this time last year; that’s over a 60% gain in one year. How are you CDs, bonds, and 401(k) doing?

Why did precious metals prices jump so much today? I’m sure the Fed’s latest round of “quantitative easing” had something to do with it, but I’ve got to wonder if the mystery missile that was caught on film by a news helicopter, launched some 35 miles off the coast of Los Angeles, California yesterday evening has something to do with it.

Spot Prices as of the close of trading in New York as of Tuesday November 09, 2010, according to CMI-Gold-Silver.com:

Today Change Week Ago Month Ago Year Ago
Gold $1,411.50 +$7.25 $1,357.55 $1,345.50 $1,102.60
Silver $29.01 +$1.58 $24.85 $23.11 $17.51
Platinum $1,811.40 +$39.20 $1,721.40 $1,708.50 $1,364.20
Palladium $744.05 +$30.95 $646.50 $587.15 $337.25

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