Thursday, March 13, 2008

Silver & Gold at Record Highs

A weak dollar and the likely prospect of further interest rate cuts, combined with high oil prices and fears of inflation have sent investors into precious metals pushing them to record high prices. Gold is nearing $1,000 an ounce, and silver is over $20. Maybe this is why the Spanish are fighting so hard against Odyssey Marine Exploration over their recent find of Spanish gold coins. Why Spain thinks it is entitled to those coins is beyond me - sure they were minted for use in Spain by Spaniards, but the gold was forcibly taken by Spain from Mexico and Peru, no? I believe the rule of "finders' keepers" applies here.

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