Gold continues to glitter, silver continues to spike. The precious metals are booming on Tuesday on a whole host of issues, from inflation fears to stimulus spending to the mysterious explosion in Beirut, Lebanon.
December gold futures spiked $35.50, or 1.79 percent, to $2,021.70 per ounce.
September silver futures surged $1.408, or 5.77 percent, to $25.825 an ounce. The white metal had topped $26 before paring its gains.
As previously noted, gold is getting all the attention, but it is silver that should be given all the praise. While gold prices have soared 32 percent year-to-date, silver prices have skyrocketed 44 percent.
Still, both metals have been impressive, and this was a long time coming for a lot of gold bugs who held their gold coins, bought gold ETFs, and commented about its impending rise.
So, where will gold and silver head to next? Will gold finally match Peter Schiff’s prediction of $5,000? Will silver hit $100? With all this inflation, why not?
The next key question is: Will there be a correction?
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