After a brief pullback gold is well on its way  to $1500+ at some point in September:

Gold_8.29.2013

Many people are obsessed with “reasons” and “catalysts” for market moves. Of course, there are always reasons which present themselves in the moment but they are rarely presaged with foresight. In fact, most of the widely understood catalysts for gold have fallen by the wayside.

Instead, I will offer one simple yet potentially quite powerful catalyst: What if the US Federal Reserve is completely full of shit and their financial engineering is proven to be quite dubious at best? They will find themselves doing more of the same, more QE, more fiat devaluation with no end in sight. Once the market loses all confidence in the most powerful central bank on the planet, $2500 will be a mere roadstop for the gold price, $7000 will be a much more reasonable 3-5 year target.

(Visited 1 time, 1 visit today)