Gold trumpet call to higher prices ahead.
Over night gold slammed through Jim Sinclair’s angel magnet of 1764. So folks I think from here on out things are going to move faster than the normal seasonal reactions of the past would indicate as we go into the final months of the year.
ExactPrice right now is showing gold as I type to be at $1,738.20. After setting a new high, twice, over night in foreign markets it has sold back down to the 1,720 region and is now climbing back up. Pretty much a healthy retraction to yesterdays region. Here is a some links for you to consider with all the economic world wide crisis that are driving gold higher.
“…the greatest threat to America was not a terrorist squatting in a cave in Afghanistan, but the US debt mountain.”
“They haven’t got trust in the governments, they haven’t got trust in the banks, they haven’t got trust in their own currencies and we’re witnessing a massive shift in power from West to East in the world, aided and abetted by appalling governments in the West. Difficult to say exactly which way things will go, but they are going to get worse, a lot worse before they get better.”
Dollar to Be ‘Discarded’ by World: China Rating Agency <- China making more threats.
Warm and Fuzzy – NOT! <- some commentary from Peter Grandich.
You’ll Be Buying Gold at $2,000/oz – And Higher <- It’s coming.
I was recently asked in an interview if I thought gold was going to $5,000 an ounce. “No,” I said bluntly. “I think it’s going higher.” “You’re that optimistic?” “No,” I replied. “I’m that pessimistic.”
Special Update 10:00PM EST <- Peter Grandich on the markets. Worth a read.
Update 7:30AM EST <- This is a followup from Peter.
Brace for Impact <- Yeah. He’s not the only one feeling like that.
Things Will Get Worse <- Jim Sinclair posts some short and not so sweet words from John Williams of Shadow Stats.
Gold reaches its inflation adjusted high in Asian trading as Chinese buyers step in <- Good info from Dan Norcini.
Is Recent Gold Hedging Activity a Warning? <- from Casey Research.
The Endgame is Approaching <- and approaching fast it would seem.
Stephen Leeb – Silver to Hit $200 Within 24 Months <- That would be something to see indeed.
What we are experiencing is Grand Policy Failure on a global scale, a failure best understood by examining liquidity traps and the Keynesian plummet into Financial Black Holes.
Fiat’s Fire entry is worth seeing: Printing Presses Tuesday- Dr. Deficit Painted Into Corner As Markets Collapse and Inflation Hits China; Debt Ceiling To Be Breached In 7 Months or Less; Housing Dead For Years If Not Decades; Massive Riots and Unrest Sweep Across London; S&P Downgrades Thousands of Munis; Top Fed Official Under Dr. Deficit Resigns; GEES Scale In Full Emergency Watch Level 6; Much More
Gold as I close is at $1,748.20.