Will they really raise interest rates and risk break more than 70% of their economy and perhaps affecting the whole world??? I think the FED will have to print more before any real interest rates rising..... unless they will use their status as World Reserve Currency to destroy even more the global economics..... no wonder so many countries want this monetary system out...
Just like $60 oil was meant to be a death blow to gold? Oil's now at $40 and gold is rallying. Who knows, gold could hit $2000 by the time US raise rates and there could be some explanation for it. The worlds falling apart just enjoy the ride.
1292 $ last time I saw the price. If they temporarily postpone the euro QE, gold could drop. We're in January, so it's normal to see gold go up anyway. I wonder if someone will hit the price down.
I think we could well be due to another round of SCOTIA's specials........ and it will be welcoming by so many "parties"....
I know lol, that the us rate rise, end of QE3 and the USD getting stronger was why I was mainly fearful, I also know someone who is very bearish on gold as he reads Armstrong (I know), and he's influenced me a bit. Now it's looking like it's soon going to cost me an extra 300 to buy the bars I normally buy, so I'll have to buy a smaller amount.
Also even IF they do raise rates how much do you think it could shave of the gold price? and would it matter if the price is already high? Although January is historically good for gold so...
With all the kerfuffle going on in their energy sector, hourly wages going down and deflation concerns I can't see them raising rates in the near term. The fact that they have gone submarine silent on what they are planning to do lens credence to the idea that they are at least considering it if things keep going shaky. I've read more than a few articles saying that rate rises were more or less priced in anyway and that the market hates uncertainty more than anything else. Because of that you might see a small dip on the actual announcement if it happens but will likely do better after the announcement just because people will know where they stand.
IF they do raise rates, IMHO only.... it will only have a short effect on GOLD.... they world economics have changed now.... the REPATRIATION of GOLD is accelerating and they are not going to use the gold to make jewellery...that's for sure..... it's coming back for a reason... . "RESERVES"..... a inevitable down turn on the global economy and a possible near future Monetary System change with it...... The fact that China is challenging the IMF and willing to bail out Venezuela and Russia, is already a sign of times..... I believe the mind set for GOLD will not be easily undone by the US trying to bring interest rates up and destroying more the global economy....
Up 3.5% since the thread started. Theres usually a huge selloff whenever I start to feel good about my stack so expecting $1000 in the next week or so. On the other hand where else can investors park their money and attempt to maintain some intrinsic value in their assets at present?
I guess people are starting to ask this question. And when they start asking this question there is only one answer that pops into their thick head; Metals.
