The gold price
Gold Hits $1043 - 7 October 2009
What's driven gold to its new record highs...?
IN CASE YOU'VE been under a rock for the past 24 hours, writes Brian Hunt for Steve Sjuggerud's Daily Wealth, gold buyers just won the "battle for $1000."
During Tuesday's trading, Gold reached $1,043 ounce...which surpasses its March 2008 high. But what's really driving this breakout? Once again, we remind you:
"There ain't no such thing as a free lunch."
You see, to pay for all sorts of bailouts, wars, stimulus packages, cash for clunkers, and welfare programs, governments have to borrow lots of money. They even create a little out of thin air to help foot the bill. When they do this, they dilute the value of their paper currencies. Gold, a sort of "anti-currency", is where smart investors flock when this government stupidity gets a little too stupid.
Is gold too popular right now? Probably. But governments know that promising "bailouts for everyone" is how to get elected and stay elected. And as old man gold and his new high reminds us, there just ain't no such thing as a free lunch.
Long-term, gold is headed higher.
Looking to Buy Gold today? Make it simple, secure and cost-effective at BullionVault...
IN CASE YOU'VE been under a rock for the past 24 hours, writes Brian Hunt for Steve Sjuggerud's Daily Wealth, gold buyers just won the "battle for $1000."
During Tuesday's trading, Gold reached $1,043 ounce...which surpasses its March 2008 high. But what's really driving this breakout? Once again, we remind you:
"There ain't no such thing as a free lunch."
You see, to pay for all sorts of bailouts, wars, stimulus packages, cash for clunkers, and welfare programs, governments have to borrow lots of money. They even create a little out of thin air to help foot the bill. When they do this, they dilute the value of their paper currencies. Gold, a sort of "anti-currency", is where smart investors flock when this government stupidity gets a little too stupid.
Is gold too popular right now? Probably. But governments know that promising "bailouts for everyone" is how to get elected and stay elected. And as old man gold and his new high reminds us, there just ain't no such thing as a free lunch.
Long-term, gold is headed higher.
Looking to Buy Gold today? Make it simple, secure and cost-effective at BullionVault...
Steve Sjuggerud, 07 Oct '09
Former stock-broker, mutual-fund vice-president and hedge-fund advisor Dr. Steve Sjuggerud is the founder and editor of True Wealth. Launched in 2001 and now one of America's best-followed newsletters for private investors, True Wealth also provides free analysis and ideas in the Daily Wealth email service.
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