As I write, gold sits around $1654 per ounce, making a massive $40 intraday rally today. I will allow www.tfmetalsreport.com to provide detailed information, as I do not have it.
But, with Korea picking up 25 tonnes yesterday and the huge move up today leads me to think that the Gold Train is picking up steam and that physical gold may be harder to come by even as its price goes up. Some of the analysts most of us follow predict we will see $100 up days on occasion. I believe that will indeed be the case.
Gold is still cheap. Never let it go... Unless you give it away... ;)
Without doubt part of gold's rise (again I would refer to TF's great site) has to be the
The Really Bad Debt Deal
made by our political leaders in Washington. They will NOT cut spending. And spending IS the problem. We all know that. Right after the Senate voted for the Deal, why Obama and Harry Reid both then came out and gloatingly said they need to raise our taxes!
Even the ratings agencies have taken notice of our corrupt and weak politicians. Our leaders are NOT LISTENING to us.
Team Gold: +$40
Team USA: -$2,000,000,000,000
A train wreck lies ahead. Please prepare accordingly.