Beware June 30–The End Of QE2! US Government Takes Two More Steps Toward Nationalization Of Private Retirement Account Assets!
In aftermarket trading on April 29, the price of gold reached around $1,570 and silver climbed to about $49.50. With building momentum, it looked like gold had a good chance to reach $1,600 the following Monday and for silver to reach an all time high (ignoring inflation) above $50. Neither metal made those targets. In plain English, the prices were bushwhacked.
Before I give you the nuts and bolts of what has happened over the past month, let me review what happened to end the 1979-1980 bullion boom.