this past week the gold etf (gld) added 46 tons of gold to its holdings to reach an all-time high of 705 tons. slv did not buy any silver. even better, the central fund of canada (cef) just raised another $130 millon, which means some 3 million oz. of silver will be taken off the market. on a day that gold and silver were taken down, and cef issued its new shares at 13.50, it still closed at 13.76. but then cef holds real silver, not the paper kind.

the producer price index didn't quite make it into double digits yet. year over year it now stands at 9.2%, which portends higher consumer prices down the road.