Gold and silver — Now it’s FOMO

By Alasdair Macleod – Goldmoney

Gold and silver have had a rip-roaring week with their prices rising almost vertically. In European morning trade, gold was $4340, up $320 from last Friday’s close. And silver at $54 was up nearly $4. Adding to the sense of a gathering run on bullion stocks, reports from around the world are of queues of retail buyers no longer worried by high prices but seeking to buy small bars and coin in both metals before prices go even higher.

Investors are also missing out, belatedly buying into ETFs on a scale that’s still very small compared with the amount of investible funds.