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Gold Marks Two Important Milestones

Indeed it makes a strong statement about the demand for gold.

It also makes a strong statement about the demand for platinum. Platinum being a major ingredient in catalytic converters. As the car markets are plunging there is little need for these devices. Rhodium is also a component of catalytic converters ans we have watched as the price of rhodium has plunged as well.

Gold at $850 isn't the metal itself, it's COMEX gold. Paper gold if you will. Real gold as in bars or coins sells above $1000 most anywhere.