November 03, 2010
– Comments (5) |
RELATED TICKERS: GLD
GOLD "GLD" is selling off but that's gonna be temp. fall because the Gold bulls just got a weapon to continue their buying ways. I expect "GLD" to run to $150/shr by end of 2010 with this news.
Kitco Daily Gold Brief - - Long-Term Fundamentals for Gold Still Intact - Kitco News, Nov 3 2010 2:35PM
There is a chance that the gold bull scenario is tempered a bit. The new congress might reign in gov't spending, giving the USA more credibility. They might offset Bernake's flood of dollars a bit.
I am convinced Gold invested Hedge funds have connections with FED. decision makers, especially after this move.
The Fed. just made the $3,000/oz TARGET Calls for GOLD look even more conservative with its move today. Looks like only the super rich will be able to afford Gold Jewelry in the future.
Monetary policy around the world is in expansion mode. This looks pretty good for gold.
But what happens when world economies recover (even if the US lags) and central banks tighten up? Wouldn't investment dollars flow out of gold and into other investments denominated in stable currencies? (which may not be dollars)