I know I know…
We are supposed to enjoy our holiday while we can, but the latest gold price movement has made me anxious to write about it.
The movement in Sept. 14th. is quite fast and break the highest record $1,264/toz. with $1,274/toz.
Most of the people said it’s because the Fed or Federal Reserve decides to purchase $1 trillion in bonds to bolster the economy. U.S. stocks declined. Most of the old or the bond investor think Fed Chairman Ben S. Bernanke will push Treasury yields down to the levels of the 1950s with another round of asset purchases.
People are losing confidence with Macro Economy of U.S. right now and moving their money or investment elsewhere… Well we can know for sure that gold is one of them.
My advice? Buy and keep holding gold if you still have it, or speculate a little with a short position until level $1,250 and bought back at that price.
A little tips and out of topic. Geithner have been putting some pressure into China regarding their currency Yuan. Reasons? There might be a good reason that U.S. expecting other country currency to rise in value. Bad for export yet good for Yuan Investor (U.S.???). Well.. That’s for your own to decide. /:)