Jim Sinclair’s $1764 magnet coming up fast for Gold.
Well, over night it would appear that the Asian markets had a hunger for the yellow metal and because of that silver has finally crossed $41.25 and is right now at $41.88 as I type.
Gold is looking strong at $1,670.90. I expected a pull back at the COMEX open but one really didn’t materialize. I think we can say that the summer dull drums are done with.
What is interesting to me is that platinum is losing position against gold and this morning I am left wondering if gold at some point this year will top it.
First two news items were sent to me on twitter from Mike Cane:
China Joins Russia in Blasting U.S. Borrowing After Debt Ceiling Agreement <- Seems to me that China was pushing us to raise that debt ceiling? What gives?
Sorry About That <- good gold and silver analysis from Ferguson.
Man Accused Of Breaking Bird Feeding Law Might Be Jailed <- more governmental craziness.
Confidential Wal-Mart Memo Discloses Substantial Drop In Store Traffic Compared To Year Ago <- another ht to Jervis. And boy is this bad economic news if true.
Lear Capital: Debt Limit Got a Raise – So Did Gold <- thank you Washington DC.
Doug Casey – Inflation to Start Running 20% – 40% Per Year <- that ain’t a pleasant outlook.
Our Problem in Pictures <- This is a must see on our debt issues.
Gold and silver breakout as even strong currencies falter <- that’s because there are no strong currencies other than gold.
World’s Private Sector Stumbles as Debt Crisis Bites <- I think enslaves is a better choice in place of “bites”.
Deficit Will Grow While Economy Shrinks <- Grim outlook.
You Want to Create Jobs? Here’s How <- interesting read.