Gold in Uncharted Territory Above $900
The bull market for gold kicked off this morning by running up to a new all time record high of just above $914 before settling in to $910 as I write this posting. Keep an eye on The Bullion Desk for changes to gold and other precious metals, or stop back here for updates.
Expectations of a further reduction in prime interest rates in futile Fed atempts to stem off a recession which has already begun are at the heart of investors buying. The free falling dollar is both a result of Fed announcements and another reason for investors to secure the stablilizing effect of gold on any mixed portfolio.