Is This A Dollar Crisis?
“We’re in the midst of a dollar crisis here and the market is reflecting on the high cost of oil and the falling dollar and soaring gold prices. The good economic news is going to be overshadowed by the dollar crisis…
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Gold Blows Through $800 – Highest Level in 27 Years
Gold blasted through $800/oz on Friday to close at $808.50 on the NYMEX. That’s the highest level since January 1980 and close to the all time closing high of $825.50 set on January 21, 1980. But don’t worry about inflation…
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Stocks Stay Strong Despite Weak Housing Data
The stock market is certainly acting well. This morning KB Homes (KBH) announced another ugly quarter. New home sales were down 21% from last August and the median price was 7.5% lower. The S&P is up 6 points to 1531…
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Helicopter Money Causes Gold Explosion, Dollar Crash
The gold market “is telling us that the Federal Reserve has no inflation fighting credibility.” – Ralph Preston, Account Executive, Heritage West Financial “Foreign investors would be foolish to buy US investments knowing that the value of the dollar will decline.”…
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December Gold Closes at $724 Ahead Of Fed Meeting
“The market is convinced that the dollar will go down after a Fed Funds interest rate cut.” “There is little doubt that gold is now here to stay above $700 and the market is reflecting it.” – Julian Phillips, Analyst,…
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Gold Breaks $700/oz
Gold closed above $700/oz today (Thu 9/6) for the first time since May 2006. In fact, gold has been on a tear for the last month rallying from around $650 (1 year chart). As people anticipate a rate cut, which…
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Gold Approaches $700
Gold closed at $695.80 today according to Bloomberg. Peter Grandich, editor of the Grandich Letter, wrote (subscription required): A near perfect storm has aligned both technically and fundamentally for gold. A test of the 2006 highs around $735 is not a…