The action, however, is mostly on the side of gold, which is movin' on up because of Obama's re-election.
He aims to tax and spend, but the US House stands in the way of that, which takes some of the pressure off the need to borrow money or print it, which is negative for gold. But with Ben Bernanke serving at his pleasure at the Fed, dollar devaluation through quantitative easing is still positive for gold and negative for the dollar.
Gold doubled under Obama's first term, from $850 the ounce to $1,730 today. I wouldn't be surprised to see that happen again.
$3,400 the ounce in 2016?
Just the thought of it makes my nose bleed.
He aims to tax and spend, but the US House stands in the way of that, which takes some of the pressure off the need to borrow money or print it, which is negative for gold. But with Ben Bernanke serving at his pleasure at the Fed, dollar devaluation through quantitative easing is still positive for gold and negative for the dollar.
Gold doubled under Obama's first term, from $850 the ounce to $1,730 today. I wouldn't be surprised to see that happen again.
$3,400 the ounce in 2016?
Just the thought of it makes my nose bleed.
