Wednesday, April 14, 2010

A.M. Kitco Metals Roundup: Gold Higher as U.S. Dollar Index Weakens, Crude Oil Rallies

Hold on to your boots, because oil prices are going up. One should ask why? Because our government keeps running up the debt and jobs are disappearing faster than the truth.

Economic disaster is coming. It is not of matter of if but when. Every step our elected officials have taken has only delayed the problem, and once it gets to a point where the bubble burst, it will be very painful.

A.M. Kitco Metals Roundup: Gold Higher as U.S. Dollar Index Weakens, Crude Oil Rallies

By Jim Wyckoff
14 April 2010, 8:23 a.m.

A weaker U.S. dollar index and higher crude oil prices are supporting fresh buying interest in Comex gold futures Wednesday morning. June gold was last traded up $5.70 an ounce at $1,159.10. Traders viewed Tuesday's price setback as a buying opportunity as the overall technical picture for gold remains fully bullish.

Underlying support for gold continues to come from Greece's sovereign debt situation and the efforts of the European Union to deal with it. While more steps were taken this week to offer financing to Greece, many gold traders remain very skeptical that Greece can ultimately get out from under its huge debt burden without further economic and financial harm to the EU. That is leading to further buying interest in gold as a hedge against European currencies...

Just be prepared because we are next.

Read full article HERE.

Also check out this article "IMF Prepares For Global Cataclysm" .

1 comment:

  1. Obama and Geitner are purposely allowing the dollar to be weakened in a ruse attempt to get China to go along with sanctions against Iran, Ain't gonna happen.

    Meanwhile.....the costs of fuel and food continue to rise and now interests rates are climbing. Inflation is on the way.