Tuesday, August 2, 2011

Gold Cracks 1640

Gosh, who would have ever thought with another 2.7 trillion dollars being manufactured out of nowhere- that gold would resume it's march higher?

ZeroHedge based on some pretty accurate charting- sees gold at 1950 by years end as the government continues to take on unpayable amounts of debt. Others think gold will go completely parabolic at the 1750 level and folks, that might only be a week or two away.

I am still waiting to buy the deflationary dip. This market, amidst some of the shittiest numbers put up in the last three years, simply can't continue to levitate. It is a miracle that the Dow is not at 6000- where it should be.

1 comment:

Anonymous said...

$1640 gold. Mind boggling. When I last ran a gold mine here in Venezuela, gold was selling at $280 per ounce. Times have sure changed and not for the better, unless of course you own a gold mine.