Tuesday, October 7, 2008
GOLD 2000
Yes, we will see gold at $2,000 per oz within the next 90 days if the financial crisis does not stabilize. Hot money is looking for a safe haven, for foreigners it seems to be the U.S. dollar, for U.S. investors it’s going to be gold. Other commodities, including the recently run up oil commodity, are items which do not sell well in times of economic decline, as their industrial use will be limited as sales go down. So, money which is being pulled out, at a tremendous rate in the U.S. stock market will flow into gold. In other times, minus the financial meltdown, a lot of hot money would flow into cash accounts- waiting to see where to invest- but in this case, your bank is the last place to park cash. Buy gold !
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