Conrad Strauss: Silver continues to bang its head on itsall-time high of $50 as inflation fears mount.Conrad Strauss: The price of silver is looking increasinglylikely to eclipse its all-time record high of $49.45 as fears overglobal inflation and geo-political tensions mount.Silver traded close to its record price but almost immediately soldoff by as much as 10% to trade below $45.“This price action is a textbook example of just how volatiletrading silver can be” a Conrad Strauss trader stated.“We fully expected the all-time high to provide formidableresistance. When investors who are long the metal, they generallytrail their stop losses so they can close their positions if theprice drops by a certain percentage and the bounce off $49.45triggered a lot of sell orders,” she continued.Chairman Ben Bernanke’s comments following the FederalReserve’s interest rate decision helped silver rebound,however, after investors decided that the central bank was not ontop of the inflationary pressures brewing in the globaleconomy.“The Fed says that inflation is subdued by where are a lot ofordinary Americans who would strongly disagree with theirassessment given the prices of a gallon of gasoline has revisitedthe $4 that saw so many abandon use of their vehicles in the summerof 2008,” the Conrad Strauss trader concluded.Conrad Strauss says it remains confident in silver’s abilityto preserve wealth despite a proclivity for more volatile priceaction.
