$1,500 for Gold isn’t looking all that far.
Well, well, well. This has been a fabulous day for gold and silver. Right now, the desktop app is saying that gold is at $1,436.80 and silver is at $42.63.
Next week is going to be extremely entertaining to watch, I do believe. Will there be volatile pullback? Will gold hit another all time high? Tune in next week…. 😉
Chances are good that we’ll see some profit taking as is the norm when gold hits a new nominal high. But buyers remain in the wings to grab on the dips. I’m rather surprised actually that there hasn’t been a more violent pullback yet today. Of course the day is not quite over so I may yet be surprised. I can’t help but think that there are a number of folk that can just taste $1,500 and are salivating for that spot to be hit.
Silver the shiny little brother who has multiple uses and finds himself being pulled in oh, so many directions and is thus a bit… ahem… short in supply is consequently readjusting his worth. No surprise there. Take a look at the year graph in ExactPrice for him and you can see how far he’s come in such a short period of time. On the 16th last April he was at $17.76 an ounce. Shazaam!
Okay. Here’s my links for today.
The first is from my favorite CBS person Jill Schlesinger. Just love her personality. She hosts a pod cast on money issues. This week she did an episode on Credit Cards and I think it’s a must, mostly because I believe that being in debt is essentially willful slavery. Lot of good advice in this episode. Keep in mind that gold’s rise is linked in a big way to debt. Ask the Experts: Credit Cards and CARD Act.
Related to the Credit Card episode because Bryce Covert was the guest is this article that surprised me: The Return of the Debtor’s Prison
Is Gold the New Black? States Look to Bring Gold Standard Back – Don’t know if it’s the fashionable black, but it sure is a good means to be in the black.
Retirement Myth – Worthy read yet again from Peter Grandich.
Lear Capital: Default or Hyperinflation? Take Your Pick – Gold Wins! – it don’t matter which way things go for the debt ceiling issue. Both are bad for the country, but good for gold.
A Run On the Central Bank of Belarus as Devaluation Fear Forces Halt to All Gold Sales – sign of things to come.
Are You Ready For Next Week? – Always great info from “Turd Ferguson”.