sdavid0419

Gold Hits Highest Level Since June 5 - Next Stop $1,000?

There is no doubt in my mind that gold is eventually going to those higher levels. However, nothing in public trading goes straight up or straight down. Right now Oil is slowly but surely finding its way back to the $100 a barrel level which started all of our troubles (along with the housing bubble and the bank collapse) gold seems to be following it up. The oil price is an indicator that the oil companies that are spending billions to buy off our elected government to prevent them from embarking on Obama's alternative energy path. I believe they have no choice but to do this as they have billions tied up in infrastructure that could be obsoleted should we successfully wean ourselves of fossil fuel. I firmly believe it is in the public's best interest to stick the Obama course and will vote and encourage others to vote that belief. As for the short term it is the end of the summer doldroms for precious metals and they already have recaptured the summer selloff. I'm guessing in the short term the summer traders will be covering their shorts and/or taking some profits, I did. I'm looking for a brief selloff in which I'm intending to reposition. I think this will be very brief so one will have to act quickly as I believe by January or a little sooner the Bernake inflation numbers will be undeniable. I'm also predicting the almost 1 in 3 unemployed will be exchanging home made gifts this xmas and retailers will take the worst hit yet.