RE:RE:RE:RE:RE:sweet hourly chart......metalhead666 wrote: Money is fleeing small and regional banks.....markets are rolling over.....the projected deficit will be 3 TRILLION this new fiscal year....Foreigners are selling treasuries....2 wars going on.....What cannot continue won't continue. Knowing the inevitable and timing it are two different things.
We've currently had the following for quite some time now:
1) Inflation
2) A Significant War (now "Wars" plural)
3) Continually growing US Debt as it has been for over 20 years with many financial gurus predicting the end is near for the US economy throughout this period. The US Economy has stumbled at certain points during this time, but has always come back, usually stronger than before it took a hit.
So why hasn't gold moved and stayed past 2,000 USD to date?
1) Because the price of gold is already near its all-time high of 2,074 USD. Gold exploded in value during the 2000-2011 period. That ship has sailed.
2) Because people are gobbling up risk-free USD T-Bills paying over 5% during this time of market and global turmoil while gold companies like ARTG pay no dividend, are higher risk investments, still need to spend money before they produce and sell one ounce of gold, and, in ARTG's case, is projected to take another year before first pour. People the world over are fleeing to safety, and USD T-Bills are considered the safest investment in the world.