The Last Hurdle - $US 1000.00 ??
Wow it looks like this has never happened before, I mean the price of gold at this rate.
And the commentary at a site I read has a graph pointing to the USD1000 mark , if....it goes that way.
"Gold is now more than $US 250 or 35 percent above where it was in May 2006 at the end of the LAST of the great credit expansion induced bubbles - the US real estate bubble.
Since the credit crisis hit in earnest in August 2007 - that's only a little over six months ago - Gold has risen $US 327 or just over 50 percent.
The Fed is ignoring the slumping US Dollar in its desperate attempts to re-start economic "growth" via credit expansion. This week, the USDX collapsed to new all time lows, taking out its lows of last November. " dated28feb2008.
Since the comment of 28feb08.. the USD has not been having a good time recently.Don't take this remarks as advice to go into gold though, judge for yourself. But what do you think?
source shown at link below.
http://firstteam.livejournal.com/6263.html