Gold I is UP tonight $7--$4 away from $1600 US$ is languishing , now below 83 and likely going much lower, especially with the horrendoous economic reports out today...No doubt now whatsoever, we are headed for recession in US$...Bernake et al will panic as usual and print print print, until the cows come home...Of Course this does NOT necessarily mean that the US economy will redound quickly this time....It may take more efforts and time...In the meantime the Geopolltical picture is getting worse, and more ME Oil exporters are building their own Oil pipelines at great costs, away from Hormuz....The sutuation continues to deterioate in Syria with noe end in sight...Russia and Iran are holding and digging in....All paper currencies world wide are in BIG debt and BIG trouble...The only way out this mess for the world is to back their currencies with some form of GOLD....IMCO
Mellow...