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Gold -$67
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Spot gold fell Thursday to its lowest price in almost three years as investors digested comments from the U.S. Federal Reserve that stoked fears of a scaling back of bond purchases which have been a crucial support for the yellow metal.
At 0810 GMT, spot gold had tumbled 3.4% on the previous session's settlement to $1,304.90 a troy ounce, its lowest price since September 2010 as investors digested a monthly monetary policy statement and comments from U.S. Federal Reserve Chairman Ben Bernanke given in the previous session. Silver was down some 5.7% at $20.098 an ounce, also its lowest since September 2010.
Mr. Bernanke said the U.S. central bank could start winding down its $85 billion-a-month bond-buying program later this year, if growth picks up as the Fed projects, unemployment comes down and inflation moves closer to the central bank's 2% target.
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GLOBAL STOCKS AWASH IN RED
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Conceivably the US$ might pump up to 104...per TA
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The recent 7 years' path of the US$ is very similar to its 1989 to 1999 trajectory. Methinks that if the US$ can soon effect an upside breakout (like it did in 1997), then the US$ might pump up to 104...
http://tinyurl.com/kdopulr
Furthermore, Point&Figure Analysis sees a 103 US$ on the horizon:
http://stockcharts.com/def/servlet/SC.pnf?c=$USD,P&listNum=1
But who knows...as unstable global geo-political uncertainties seem to dominate the markets of late.
??????????????????
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My goodness.....
| (goldilocks) | Jun 20, 04:07 |
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I will start adding to my stash in the a.m. !
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GOLD-EAGLE SITE REGISTERS 474 MILLION IN TRAFFIC
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In the early morning of June 19, 2013, GOLD-EAGLE received its 474 millionth access from visitors in 174 countries (since our cyber-space debut on January 1, 1997). Our Internet traffic is now running about 1.0 Million WEEKLY accesses! This is testament that Central Banks and the ranks of goldbugs worldwide are piling into gold AND SILVER… in a flight to safety with the objective to propel gold and silver to ever higher record levels in 2013.
MOREOVER, CHINA’S INSATIABLE GOLD DEMAND TO DIVERSIFY ITS EVER GROWING FOREIGN RESERVES ALL BUT GUARANTEES THAT GOLD WILL CONTINUE FORGING NEW ALL-TIME RECORD PRICES FOR MANY YEARS TO COME.
In September 2011 gold established a new record all-time high…topping $1,929 (intra-day) with its eye on $2,200 by yearend 2013.
The following charts show gold prices in ALL major global currencies recently made record highs:
US Dollar gold Price
http://tinyurl.com/27j6ema
Euro Gold Price
http://stockcharts.com/h-sc/ui?s=$GOLD:$XEU&p=W&yr=20&mn=0&dy=0&id=p18243980294
Chinese Renminbi Price at an all-time record high...up over 300% since 2001
http://fx.sauder.ubc.ca/cache/XAU-CNY-1000-0-0-41-2451911-2456436.svg
Japanese Yen Gold Price forged a new all-time record high early this year
http://tinyurl.com/y7puspr
Pound Sterling Gold Price
http://tinyurl.com/y5suuju
Swiss Franc gold price
http://tinyurl.com/y54876g
Canadian dollar Gold Price
http://stockcharts.com/h-sc/ui?s=$GOLD:$CDW&p=W&yr=20&mn=0&dy=0&id=p26449480401
In April 2011 silver nearly reached the all-time high of $50.
http://tinyurl.com/2furw27
Once the present correction in precious metals runs its course, new RECORD HIGHS will be expected....as all world economies inflate their monetary base to vastly increase liquidity with the objective of averting another 1930s-like global depression. Japan, the Euro Union and the USA are all implementing QE to stimulate their economies via increasing the Money Supply in each country…which will eventually fuel gold and silver to new record levels.
Consequently, we may expect the US$ gold price to forge ahead to $2200 and $50 silver...in the next several months.
The Sun Never Sets On Gold-Eagle
--
I. M. Vronsky
Editor & Partner - Gold-Eagle
http://www.gold-eagle.com
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