Gold Keeps Making New Highs!
Gold has reached a new all-time nominal high today, trading as high as $1820 as of this writing–and looking to go higher! While gold is considered a safe-haven, the recent volatility we have seen in the markets as a result of changing risk themes can hardly be thought of as “safe”.
Nevertheless, with money uncertain where to go in times of risk aversion the recent demand for gold has been insatiable and I predict that we are going to see a parabolic move sometime in the not-so-distant future.
With possible currency intervention coming from the SNB in the franc and the BOJ in the yen, investors are afraid to get too long. And with the Dollar being orchestrated lower by Bernanke and the Fed, there are very few places left to go. While I hate buying anything at inflated price levels–especially when the result of bad monetary policy, I think we are going to see something big out of gold as it may be the one last free-market option that cannot be manipulated by Central banksters around the globe!