Silver Closes Well Above $30 As The Dip Is Now Fully Bought

Only gold and silver are real money:

– Gold Game Changer: JP Morgan Accepts Bullion as Money

I’ve told you a long time ago that for the elitists only gold and silver are money, everything else is just (worthless) paper to them.

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It looks like the much maligned correction in silver is over. After surging nearly 3% on the day, silver is now back above the 20, 50 and 100 DMAs, and what was formerly resistance is now support. In fact, silver is less than $1 away from its recent nominal highs of $31.2375.

It appears that speculators have Bought TFD with a vengeance. Hopefully, this also explains the massive silver purchases disclosed by the Mint (already at 838,000 ounces for February) and presented previously on Zero Hedge.

Submitted by Tyler Durden on 02/08/2011 14:14 -0500

Source: ZeroHedge

Related information:

– Alert: Get Out of Your Dollar Assets Now!!!

– The Ultimate Cost of 0% Money

– These Central Banks Are Printing Money – Prepare Yourself

– Quantitative Easing Explained

Silver:

– Silver Breaks Its Golden Shackles And More Signs of Silver Shortages

– $6,000 Silver and the ONE BANK

– Canada’s Biggest Bullion Bank Scotia Mocatta: ALL SILVER BARS SOLD OUT

–US Mint Sells Absolute Record 6.4 Million Ounces Of Silver In January, 50% More Than Previous Highest Month

– Eric Sprott: Expect $50 Silver, Gold Possibly $2,150 by Spring

– US Mint Reports Unprecedented Buying Spree Of Physical Silver

– BullionVault.com Runs Out Of Silver In Germany

– Silver: Shortage This Decade, Will Be Worth More Than Gold (!!!)

– Silver Derivatives – China and JP Morgan

– Max Keiser: Want JP Morgan to Crash? Buy Silver!

– Max Keiser: Crash JP Morgan – Buy Silver!

– JPMorgan Silver Manipulation Explained (Must-See!)

Gold:

– Chinese Have A New Method To Buy Massive Amounts Of Physical Gold, Bypassing Comex And Any Form Of Delivery Limits And Problems

– Gold This Decade!!!

– ‘GoldNomics’: Cash or Gold Bullion?

– George Soros’ and John Paulson’s Biggest Holding Is GOLD

– China, Russia, Iran are Dumping the Dollar, Buy Gold And Silver

– Gold and Gold Mining Shares As a Percentage of Global Assets or ‘The Once In a Lifetime Ride’

And don’t forget to do this (!!!)…

– James G. Rickards of Omnis Inc.: Get Your Gold Out Of The Banking System

… or …

– US DEPARTMENT OF HOMELAND SECURITY HAS TOLD BANKS – IN WRITING – IT MAY INSPECT SAFE DEPOSIT BOXES WITHOUT WARRANT AND SIEZE ANY GOLD, SILVER, GUNS OR OTHER VALUABLES IT FINDS INSIDE THOSE BOXES!