The plates reminded me of dinners in our old house, and looking around the living room, I could imagine my father (who had passed away 27 years ago this month) sitting on the sofa. Each clang of the grandfather clock reminded me of being a little girl.
The following chart reflects my own view of conditions that are historically good and bad for gold. Central banks' money printing on an unprecedented scale also makes the case for gold as a currency alternative.
With hard asset commodities (silver, et al), declining and the previous two nights' auctions (in which there were few works of note), performing without sparkle, I am beginning to reflect on May of 2008. It was the last good auction for a while.
If anyone thinks that the Commodity Futures Trading Commission (CFTC) has the right stuff to regulate the commodities markets, look no further than its failure to check manipulation in the silver market.
The aggressive policies pursued by the American government and other debtor nations to debase their currencies have awakened speculation in "hard assets" such as silver, gold, other precious metals, and oil.