Note this chart of credit adjusted gold from Real Return Investing at Ritholtz.  This piece might be the most worthwhile read of the week.

UBS warns of possible hyperinflation:  Zero Hedge

“On Thursday, gold futures recorded a negative 12-month return for the first time since July 2009. This is a rare occurrence over the past decade, happening on only 118 trading days, or just 4.5% of the time.”  WSJ

“If we tabulate a 33% increase in valuations, a 100% increase in margins and a 32% increase in production, it yields share price growth of 250%. This equates to HUI 1400 in 2014.”  (I reversed the bold numbers-JJ)  Daily Gold

Meanwhile, the gold miners are still stuck in the mud:  Market Anthropology.

Gold Stocks are due for a “Bounce!”  Is a 30-year under-performance long enough? at Kimble Charting Solutions.  The gold price direction:  Peter Brandt.

Rick Rule on the tightness in the physical silver market:  King World News.

Is Silver about to rally 10%? at Kimble Charting Solutions.  This silver chart is the largest symmetrical triangle I have ever seen:  Nifty Charts.

Europe Runs Over the Platinum Price at WSJ.