Portugal and Greece downgrades send gold up.
Did you follow gold today? The woes that Portugal and Greece are facing are spreading and there was a rush of money into safe investments sending gold up. Right now it’s at $1,168.80.
I will be surprised if the crisis will stop here. The IMF is stepping up to the table and is thinking of dolling out more cash which means, look out all you tax payers.
Meanwhile check this out: Apparently without announcement, IMF sold 5.6 tonnes in February