Gold breaks thru $4,700 for the first time in history. Gold and Silver are telling us that investors are losing confidence in other assets. They don’t want to buy more real estate, they don’t want to buy stocks, they don’t want bonds. They want hard assets. Silver going extra crazy, up more than 200% in the past 13 months, has the extra stress of supply shortage. Gold is not really consumed. Once gold is mined, it sits in vaults or becomes jewelry. Very little is consumed by industry and most of it gets recycled. Silver is mostly consumed by industry. Some investment in the form of coins and bars, but more silver is used in electronics, solar panels, applications which need high performance electric connectivity. Very little is recycled, less than 20%. There simply isn’t enough silver to meet industrial demand. Demand exceeds supply by about 200 million oz per year.(Wall Street Mav)