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October 17, 2011 / Hal (GT)

Battle for $1,700 continues.


Yeah, I know it’s obvious.

Watching the action this morning graph out with ExactPrice left me impressed in the early morning with the spike in the hours around 3am, but boy this afternoon around 12:30pm someone hit the sell button and the price caved in near about the same amount that it spiked in the early morning. So now we sit at $1,673.70 which is negative by $6.89 for gold. Platinum remains positive though not by much.

Here’s links for today.

Gold, silver and food – safe havens for savings? <- HT to @GoldCore

Gold and the Swiss franc are hot targets for investors at the moment. Some warn gold is another bubble about to pop and the Swiss are worried about their currency. So where else are people investing savings?

Jim Rickards – New Buyers Entering the Gold Market <- this is a great read on King World News from Mr. Rickards.

Weldon – ECB Forced to Print, Gold’s Lowest Target $3,000 <- another great piece on King World News.

Rick Rule – Global Resource Investments Founder <- You might find this interview interesting.

Four bank failures this [past] week. <- from Jim Sinclair.

Hong Kong becomes first centre for gold trading in yuan <- this should help to establish a floor I think.

Russia, Thailand and Bolivia buy more gold, Philippines and Sri Lanka sell some

Don’t Give Up on $2000 Gold in 2011 <- I haven’t. Have you?

South Carolina mine sparks mini-gold rush to the Southeast <- This is pretty cool.

Gold to Top $2,000 on Central Bank Buying: Chart of the Day <- HT to Laura Gross @lmgross

Downtown Pittsburgh has Become a Ghost Town <- HT to Night Blogger @fuTuRe_sHOcK

Capital One Sept. credit card delinquencies rise <- HT to Night Blogger @fuTuRe_sHOcK. That’s not a good sign, folks.

Lowe’s Inc. to Close 20 Stores, Cut Nearly 2,000 Jobs <- speaking of things that aren’t good signs.

Guest Post: Gold and Economic Decline

That’s all I’ve got for you today. Onto other tasks. Until the next time.

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