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August 9, 2011 / Hal (GT)

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.

Ambrose Evans-Pritchard: euro is ‘unsaveable’ <- This is an audio interview that is a must listen. Ht to @annacoull

The Best Looking Horse In The Glue Factory. <- ht to @roohaaneealou. See in graph format that value of a dollar over almost 100 years.

“…the greatest threat to America was not a terrorist squatting in a cave in Afghanistan, but the US debt mountain.”

Forced to strip naked in the street: Shocking scenes as rioters steal clothes and rifle through bags as people make their way home <- the world is coming apart.

Philly mayor: ‘No excuses’ for flash mob attacks <- ht to @YogaArmy.

Nigel Farage – London on Fire, So is Gold, Millions are Terrified

“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.

Dollar and Euro in synchronized sinking. Asia drives gold to yet new highs <- Indeed.

Warm and Fuzzy – NOT! <- some commentary from Peter Grandich.

Lang & O’Leary Exchange <- James G Rickards has a great interview on CBC about 30 minutes in. HT to @Laura__Bruce.

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.

Morgan analyst sees gold at $2,500 by year-end

‘Everything the gold bulls predicted is coming true’

Think gold is high? Wait till dollar bonds are dumped, Davies says

The Endgame is Approaching <- and approaching fast it would seem.

Fed to Hold Rates Exceptionally Low Through Mid-2013

Stephen Leeb – Silver to Hit $200 Within 24 Months <- That would be something to see indeed.

Global Grand Policy Failure: Liquidity Traps and Financial Black Holes:

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

Reality Finally Hits The Morbidly Obese US Government

Gold as I close is at $1,748.20.

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