Gold and silver post record monthly-average prices | CMI Gold & Silver
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Gold and silver post record monthly-average prices

For months the precious metals markets have shown strength in the face of continued bear raids by the large commercial traders seeking their $40-$50 price swings. Recent comments by John Williams’ Shadow Government Statistics reveal just how strong gold and silver really are.

According the Williams, the monthly-average gold price hit an all-time high of $679.37 per troy ounce in April 2007. That beat out the prior monthly-average high of $676.51 in May 2006, when daily trading hit $725.00, and topped the previous high of $675.31 in January 1980, when daily trading hit an all-time high of $850.00.

April was a good month for silver as well; silver posted its strongest monthly average in more than two decades, $13.74 per troy ounce.

Williams further notes that the nature of gold trading is such that high volatility likely will continue, as will sporadic central-bank manipulation and intervention. Yet he sees the upside potential for gold being explosive, particularly when heavy dollar selling begins.

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