It’s official gold has broken the $1,300 mark for the first time in history. Yep, things are looking rough for the US Dollar and the global economy. Gold broke record highs against the Euro, Pound, Australian Dollar, and the US Dollar.
Gold has moved into foreign territory, and while we thought it would go over the $1,300 mark we didn’t expect it to do it this soon. We thought the mark to be out 6-8 months, but with something as volatile as precious metal commodities, who know from one day to the next.
Gold has rallied most likely because of the continuing state of the US economy, and the instability of the US Dollar (the worlds reserve currency). Many people are moving into Gold, Silver, as well as other commodities. Gold is seen as a great way to store wealth against the hell-storm of a downward spiral that many economist has foreseen for years.
If only we could have bought gold when it was in the 300-400 dollar range. We’d be sitting lovely.
If you want to see a gold chart that is real time google Kitco, that’s where we got the one attached.
Get ready to duck and cover, it’s getting nasty out here.
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