Today I will be traveling up to the MGM Grand at Foxwoods Casino & Resort in Connecticut. After checking in, I will be spending the evening reading scripture with a lukewarm glass of milk by my night table.
But before I leave you, here is a medley of metals stories that I found interesting. Hopefully, you will as well. And if I don’t make it home, Phil Pearlman gets the blog.
1. Gold arrived on earth via asteroid:
Just as wise men are said to have brought gold to baby Jesus, huge asteroids may have brought gold and other precious metals to infant Earth, new research suggests.
Scientists have long known that there’s a mysterious amount of siderophile (“iron-loving”) metals in Earth’s mantle. Such metals, including gold, tend to affiliate with iron in their liquid forms.
The best explanation has been that some sort of space object brought the elements to the planet just after it formed its core, but the exact nature of the impactor has been a matter of debate.
2. Psychology and conspiracy feed into a new high for silver:
Various conspiracy theories surrounding J.P. Morgan Chase (JPM) have swirled around the silver market for several years. Most silver bugs contend that JPM is short a massive amount of silver, some even claim JPM is short more silver than exists in the world. I am skeptical of these claims, to say the least…
3. Viking silver hoard stolen from Gotland Island:
Five men have been arrested on the Swedish island of Gotland for having stolen 1,000 Viking-era silver coins. The entire hoard from which the looters helped themselves to 1,000 coins was over twice that size: 2,000 German, English and Danish coins from the 1060s.
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
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