Silver Investing Hits “Irrational Exuberance” as Price Swings 5.4%, Crude Oil Rises on Fresh Libyan Turmoil

Bullion Vault reports that analyst David Jollie at Mitsui in London said that silver investing is suffering “irrational exuberance” – quoting a phrase used by former Fed chairman Alan Greenspan to describe the early stages of the DotCom Bubble in the mid-1990s.

The report is quoted as saying:

“Geopolitical tensions in the MENA region continue to fester,” says Standard Bank in its daily gold and silver note, “keeping risk aversion elevated…and enhancing the appeal of safe-haven assets.

“In addition, the surge in oil prices is keeping fears of rising global inflation alive…Unlike Egypt, Libya is a significant oil producer. We maintain our view [first published on Feb. 3rd] that IEA and OECD countries should put their Strategic Petroleum Reserve (SPR) on a standby, ready to be released.”

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