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Stabilizing Gold Prices and Silver Volatility


While silver prices have fallen dramatically over the last couple of days, gold prices have remained relatively stable above the $1,500 mark.  Our clients that sell gold in the New Orleans area have continued to cash in and sell their gold.  The recent sharp decline in silver prices is chiefly due to four margin requirement rate hikes by the CME.  I think that the recent rate hikes were a deliberate effort to shake out many speculators and cool down the silver market–which gained around 60% in April alone.  Some analysts believe that the recent rate hikes represent a concerted effort to avoid a run on Comes silver–an ETF that is backed by physical silver.  Many commodity experts see strong support for silver abound the 35-36$ level.  Even with the recent price drop customers in the New Orleans area have continued to sell their used, broken, or unwanted silver for cash.  For those in the New Orleans area  that are worried about the recent decline in silver, you can still sell you silver for top dollar cash today while prices remain high.  Gold is holding its own, but the speculation that caused the surging prices may also see a bit of a bubble burst in the near future.  Now may be the time to sell gold in anticipation of a market correction.  Our customers in Jefferson Parish and New Orleans have continued to sell more than they are buying; the same is found with our mobile gold and silver services.  Supply and demand will always dictate the market prices, and right now we are seeing more of a demand to sell.  Will gold prices continue to stat stable, or will the gold market follow the recent downward trend like the silver market?

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