|
|
|
|
|
"A Lot of Room on the Upside" for Gold as the Dollar Wobbles
|
|
 |
This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 228 days ago (finance.yahoo.com). Views: 42
Tags: gold inflation dollar economy |
| Related Tags: investing business politics financial finance commodities housing bubble |
Given the devastation of Wall Street and financial markets in 2008, a lot of folks have been surprised gold hasn't fared better. Since March 2008, gold has twice been rebuffed at the $1000 level, disappointing its most ardent supporters.
But Peter Boockvar, equity strategist at Miller Tabak, notes gold is the best performing asset over the past year and is only a few percentage points from its all-time high despite "all this deflationary talk."
Given the Fed's unprecedented looseness and the Federal government's spending binge, inflation is inevitable, Boockvar says. "We are starting to see the underpinnings of a unstable dollar," which will lead to more demand for gold as an alternative currency.
Indeed, gold surged $18.50 per ounce Friday as the dollar hit its lowest level of 2009. (The pattern continued Monday morning: as of 11:15 a.m. EDT, gold has traded as high as $966.90 on the New York Mercantile Exchange, the highest since June 5, Bloomberg reports).
"There still room -- a lot of room -- on the upside" for gold, he says. "Friday's action could be the key tip-off."
< Prev Item | Next Item >
|
|
|
|
|
|
Marc Faber's Lecture, October 11, 2008
|
|
|
This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 1 year 150 days ago (youtube.com). Views: 2,044
Tags: economics credit crisis marc faber recession federal reserve gold inflation |
| Related Tags: finance wall street business stocks video politics infesting |
Marc Faber, who predicted this bear market along with me, gives a fantastic, detailed lecture on the economy, monetary policy, gold, and inflation. Needless to say, he is still a bear. These are must watch videos.
[More...]
|
|
|
|
|
