GOLD is the one safe haven that investors, small and large, can trust. No matter what occurs in world markets, gold will ALWAYS have intrinsic value which is more than we can say about bank shares! GOLD has risen 34% this month while banks shares have dropped on average 20% and Bank of America has dropped 34% this month (ouch!). GOLD has hit a new record high today (August 22) of $1910.
Here is a breakdown of how long it has taken for GOLD to hit $100 jumps:
It took 58 days for GOLD to jump from $1400 to $1500.
It took 89 days for GOLD to jump from $1500 to $1600.
It only took 21 days for GOLD to jumped from $1600 to $1700.
It was only 10 days for GOLD to jumped from $1700 to $1800.
And believe it or not, only 5 days to sky rocket from $1800 to $1900. (European Bloomberg News)
Stocks are gaining (barely) with high hopes that Bernanke will implement QE3. Most economists think this is not a good idea due to the already record low of the dollar. Some feel that QE3 would push the dollar to a record worth of $70 to the Yen!
Nobel Laureates are meeting in Lindau, Germany to discuss the state of the world and what the economists think it would take to solve the worlds current crisis (including U.S. Recession, Exposure, Libya, & China). Link to listen to the lectures:
http://lindau-nobel.org/LecturesOnline.AxCMS?ActiveID=1173
Therefore, it is true that all that glitters today is GOLD. GOLD may still be cheap at $1900.
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