Spot Gold Smashes Through $1,700
gold nugget
After hitting an all-time high of $1,718.20 at the Comex division of the New York Mercantile Exchange, the spot gold price has pulled pack a little to currently $1,702 as I’m writing this at 7:30AM Pacific time.
Gold prices set all-time highs as investors sought safety after S&P downgraded the U.S.’ credit rating for the first time in history.
Our precarious U.S. economy that now relies on a complex and interrelated series of “bubbles”—including bubbles in the real estate market, the U.S. Dollar, federal budget deficits, growing consumer debt and more—and that these bubbles are in ever-growing danger of popping, one by one, one after another, ultimately threatening the U.S. and the world economies.
Get a free subscription to this blog to stay in touch with gold prospecting stories and comments on the economy, the dollar and the spot gold price.
Comments are closed.