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Gold and silver are an indicator of the economic situation in general. if gold and silver to up, it means your dollar is likely losing value and generally people see it as an indicator of confidence in the economy. If people think the economy is going downwards, they will buy precious metals to store their wealth safely. The comex as a market where they sell paper contracts which originally was supposed to be one contract per ounce of gold they have stored, now its 542 contracts to every single ounce of gold they actually have which means a default could be triggered at any time.
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