Gold sets new nominal high, again.
Boy, this kind of headline is coming more and more. Right now ExactPrice is showing the real time spot price at $1,372.30.
Silver too, is doing well and has crossed the $24 barrier and is currently at $24.06.
What’s leading it? Well, in part the FED and possibility of QE but also this foreclosure mess and China’s desire for commodities.
I have a lot of links of info I came across to that is worth looking at so I will just lay those out for you and let you at it.
Brief Update – Peter Grandich’s analysis of the markets. Good stuff.
Daily Bell: Are we still headed for a Greater Depression?
Doug Casey: There is no question about that as far as I am concerned. The Greater Depression has started in earnest. Let’s define the term. A depression is a period of time when most people’s standard of living drops significantly; that’s actually happening in the United States. Another definition of a depression is a period of time when distortions and misallocations of capital in the economy are liquidated – that happens largely through bankruptcies and unemployment. Both of those things are already high, and are going to increase significantly. Regrettably, and unnecessarily, the Greater Depression is going to last a long time. It was caused by government intervention in the economy, and the government is ensuring it will go on much longer than need be. We can’t talk about recovery in a matter of months or even in a couple of years. I’m afraid this is going to be quite dismal for a lot of people ..
Wall Street firms dole out record pay to executives – How’s that pay Czar working out?
Until next time, keep your eyes on the precious metals!