Posted on 08/07/2011 8:59:35 PM PDT by Nachum
The first of many gold price upgrades is here, as Goldman's David Greely finally catches on to what has been all too obvious to anyone with a frontal lobe: "Gold prices hit a new record high last week, closing at $1,663/toz on August 3. Despite this rally, the rise in gold prices has continued to lag the plunge in US real interest rates, with 10-year TIPS yields trading below 30 bp. With our US economics team lowering their outlook for US economic growth, implying US real rates will remain lower for longer, and with sovereign debt issues in both the United States and Europe intensifying, we are raising our gold price forecasts to $1,645/toz, $1,730/toz, and $1,860/toz on a 3, 6, and 12-month horizon, respectively." Next up: everyone else.
Note summary:
Gold prices rise to record high as 10-year US TIPS yields plunge to a record low
Gold prices have rallied strongly since the beginning of July, rising 12.2% to a record (nominal) high close of $1,663/toz on August 3. While the rise in gold prices has been sharp, it continues to trail the fall in US real interest rates. In particular, 10-year US TIPS yields plunged from 77 bp to a mere 24 bp over the same period, according to the US Federal Reserve. Consequently, despite this rally to yet another new record (nominal) high, we believe that gold prices will continue to rise as:
(Excerpt) Read more at zerohedge.com ...
I haven’t been, but all reports say last year was a huge success.
This year I am going.
Good luck and fair winds to Mr Mark Larue
Holy carp!
Talk about stream of thought!
Actually, I find this very frightening.
There is such pressure on society that people are getting buggy.
It will be nice having him home for a few weeks while he recovers (even if it means a few tight weeks).
As for our investments, I'm almost afraid to look at the statements.
Don't know how those who were already hanging by a thread are going to get through all this...
Po SOB bought that sledge hammer at Walmart LoL
Just hug that guy.
I asked my mom and dad today whether they were putting any stores away for a “rainy day”. “What for” was my moms answer. They really made me feel like I was a complete nut for even bringing it up. I have to mention that they are hard core democrats. My wife and kids are provided for should the S hit the fan. However, what do you do for parents who you love dearly who are not prepared? I really can’t afford to provide for my parents and my 34 year old sister who lives with them. Shes also a democrat.
You move them in.
Its gonna be a hoot saying “you live in my house now” LoL
I was wondering where he got all that China carp, LOL. He’s kind of a legend on YouTube but bugged out many months ago.
I just don’t know what to say to that. My parents live in Florida, 1100 miles from me. To some degree they are OK. They have food put up, know how to and are still able to hunt and have a garden. And will give as good as they get. But I will worry no matter what.
And they are no where near being democrats!! That I have no worry about
Same here, if you go North. Glad to know you neighbor.
All I know is that the dude needs a bit of medication.
Yes its bad but it aint crazy bad.
I laughed my ass off when he lost the walmart sledgehammer head!
See you guys later. Will be following the Market early.
The sadness with that guy is that when the POS sledgehammer came off the handle, he didnt even blink.
He just kept ranting.
He never connected that it was a cheap Chinese POS
Looks like aisian markets have stabilized DOWN.
That doesnt always mean a lot. Well see what the Bs Du Jour is tomorrow
Yeah... well i'm kinda sick of geitner
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