Silver - 8 hour chart update

Gold - 8 Hour chart update

Raging food prices coupled with low employment is creating a new industry

Vegetable bandits strike as food prices soar

'We've never seen anything like this,' tomato firm boss says; truckload of frozen meat also stolen

By WILLIAM NEUMAN 4/15/2011 4:32:11 AM ET

http://www.msnbc.msn.com/id/42603382/ns/us_news-the_new_york_times/

Europe feeling the heat from Inflation

Further evidence that the Kraken is raging round the globe. This comes as I am watching gasoline closing in on the $3.30 level at the Nymex and crude oil notching a $110 handle.

Eurozone Inflation Continues To Surge And It's Not Just Food And Fuel Anymore

Gregory White | Apr. 15, 2011, 6:25 AM

 

Eurozone inflation for the month of March surged to 2.7%, year-over-year, from 2.4% year-over-year in February, according to Eurostat. That's higher than the original 2.6% reading. In the euro area, on Ireland remains below the 2.0% target rate set by the ECB, at 1.2% year-over-year inflation.

 

Read the entire article here:

http://www.businessinsider.com/eurozone-inflation-march-2011-4#ixzz1Japhnbeb

 

The "Silver Surfer" rides the waves of investor favor

The following story from the Wall Street Journal's blog, The Source, notes the strong performance of silver and is a good read.

Silver Nabs Gold’s Crown

By Francesca Freeman

Despite both metals hitting fresh record highs Friday, silver has once again stolen gold’s crown.

You can read the entire story by clicking here:
http://blogs.wsj.com/source/2011/04/15/silver-nabs-golds-crown/

Chinese demand for gold ramping up as Beijing restricts Investment in Housing

The following report from Dow Jones is a very interesting read and provides a keen insight into another reason why Gold demand from China remains so robust.

China Property Softening Fuels Gold Demand-JPMorgan
Thu Apr 14 21:47:54 2011 EDT

0147 GMT  [Dow Jones] 

The slowdown in China's property market, being directed by Beijing to rein in housing affordability issues, is driving gold demand by the country's "mass affluent", argues JP Morgan's China equities and commodities MD Jing Ulrich. This group "has seen its investment options sharply affected by restrictive housing measures" such as property taxes, increases in down-payment requirements, and raised interest rates, "since these households possess sufficient capital to purchase investment property, but do not have the same degree of access to investment vehicles such as private equity funds and retail property" as the super-rich, she says, adding that equities, gold and alternative property investments are therefore the key beneficiaries. "Chinese demand for gold jewelry increased 13.5% (on year) in 2010, while demand for bars & coins rose 70.5%. Most market participants expect that China's gold demand could grow at a still-stronger pace in 2011," she notes. At 0137 GMT, spot gold is at $1,476.20/oz, off its earlier record peak.

(mailto:david.fickling@dowjones.com) 

(END) Dow Jones Newswires

Gold - 8 Hour chart update

Silver - 8 hour chart update Noon CDT