Friday, January 04, 2008
New All Time Gold High
Gold has made a new all time * closing * US dollar high. The closing high from the last bull market was right around $850. Intra day, it got almost to $890.
How has gold been doing versus the Dow?
(Click on graphs for larger views)
"You've come a long way, baby." - old Tarrington cigarette commercial
"The most salient buzzword in 2008 is going to be inflation. The Fed is lowering interest rates and vastly increasing the money supply. They're further fueling inflationary expectations." - Michael Pento, senior market strategist, Delta Global Advisors Inc., Huntington Beach, California, which manages about $1.4 billion.
“a government can get away with the illusion that paper is wealth, but in the end, too much paper is always created, and with that action the illusion falls apart.” - the venerable Richard Russell.