Spot Gold Over $2,000
Arizona gold
Some gold traders feel that spot gold could go beyond $2,960, in 2010. Their reasoning is that we are getting to the point in the gold market where some of the really strong, big players — by that, I’m saying commodity funds with hundreds of millions of dollars — are saying gold is should easily be rising to $2,000.
Between the massive over-spending by Barack Hussein Obama & the Democrats; combined with other countries’ attempts at keeping their currencies cheap to the US$; along with dwindling supplies of new gold to be mined; add it all up & the price of gold bullion has no where to go but up! Read more 
Spot Gold Drops on Dubai’s Default News
Arizona gold nugget
The spot gold price opened down over $46.00 an once, but, closed down just $20.70 on the Dubai debt news. Dubai’s debt crisis rattled world financial markets today, raising concerns that some banks could further tighten lending and stall the global economic recovery.
Dubai’s troubles caught investors by surprise. A year after the global slump derailed the city-state’s dizzying growth, its main investment arm, Dubai World, revealed this week it was seeking at least a six-month delay on repaying its $60 billion debt. Credit agencies responded by slashing debt ratings on Dubai’s state companies, saying they might consider the plan a default. Read more
Central Banks Ready to Drive Gold Price Lower?
Arizona gold nugget
A few years ago, Alan Greenspan testified twice before Congress saying ‘Central banks stand ready to lease gold in increasing quantities should the price rise.’ Central banks carry gold in the vault and gold out on loan as the same line item; in effect they report cash and accounts receivables as the same thing. As a result, central banks have only 1/2 to 1/3 of the physical gold as reported on their balance sheets. This means they hold not 30,000 tons but more like 8-15,000 tons of physical metal. All of this has been thoroughly documented by publicly available documents.
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Gold Price
Arizona gold nugget
Whatever price gold does reach will reflect the new economic reality beneath today’s smoke and mirrors magic lantern show. In effect, it will buy then virtually the same goods and services as it does today but, likely, a lot more paper.
Its advantage lies in the fact it is almost guaranteed to do so whereas most everything else carries a risk of either collapse or excessive taxation. Gold just sits there, silent but pretty, watching the show unfold.
When its call comes, like Cinderella, it will rise for its performance to be recognized as the real star of the event.
gold gram scales
Gold Price At 33 Percent Gain
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Today, as I write this, N.Y. spot gold is: $1184.60, another all-time high. Gold has added 33 percent this year. A ninth annual gain would be the longest winning run since at least 1948.
