Thursday, January 03, 2008
Well, I hate to say "See, I told you so"....no, that's not true, I love saying so and that's why I am doing it now. I told you when gold was at $785 in October 26 that it was a certainty that it would surpass the $850 peak from 1980 within 12 months (before October 26 2008). I also said it might happen already during 2007. That didn't happen, but it happened during the first trading day of 2008, as it reached $858 yesterday and is trading at $863. Gold will likely continue to rise during 2008 as the Fed continues to inflate during 2008 in a vain effort to pull America out of the recession. Some time during 2008, $1,000 gold seems likely.