Posts Tagged ‘Dr. Stan’

Kitco.com has been my primary resource for precious metal price quotes in the past few years.

However, yesterday, Bob Chapman, The International Forecaster, on his appearance on Radio Liberty with Dr. Stan Monteith, pointed out that Kitco’s numbers have been too frequently erroneous over the years.

At 50:24, he states:

Kitco’s notorious for putting out false information. I mean, you’ll go to another site, and you’ll get gold up $10, and you go to Kitco, and they got it up 50 cents. And that stays on for a long time — they don’t just change it. So, there’s no updating. And often, many times, I have found them to be untruthful about the things that they’ve put up.

On May 19, 2010, I noticed that their reported low for silver on their main http://www.kitco.com/market page was $16.67, when in reality, it hadn’t dropped much below $18.

Even today, it says silver’s low for the day was $18.11, but when you look at the daily chart, it shows it reached $18.05 several times.

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