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If you have a target for gold itself, subract $12 from it and divide the result by 10 for an equivalent GLD value. Better to own the real thing, IMO, not paper gold.

Well, we'll see if that bounce off the 100 SMA was for real, I guess. Everyone I see has given up on it, but someone is buying.

Yeah, I think its the ONLY option with a FIAT currency.

Buying gold tonight, here. Bernanke speaks on the economy tomorrow.

The real problem is that looking at it as a percentage of GDP is meaningless, because 72% of GDP is consumption. Try it against the other 28%.

with 400 infomercials all day long about it, as though it was news or worth watching

Gold is gold. Paper is just empty promises.

The SWF's literally have TRILLIONS of dollars looking for something worth buying. All it takes to move gold over $1000 is for them to allocate ANY percentage of those TRILLIONS to buying physical gold. I have no clue when they get tired of watching the dollars turn into so much green paper...

Guessing $890

All they need to do is reduce liquidity to reduce commodity prices. As soon as nobody has dollars to buy them with, the prices will fall. But as of Friday, all I see is INCREASES in liquidity being sought and granted. Note how I said "sought and granted". Nobody is producing to EARN the...

The best chance for a pullback will be tomorrow. From the looks of it, after that, the week will be up as data comes in.

I think a Soviet style crumbling is a more likely result of our long term fiscal and monetary mistakes. The Constitution required gold and silver ONLY be accepted as payment of debt for hard learned reasons, and we have forgotten them, so are condemned to repeat the mistakes that caused...

I say wait and see if the other vultures run out of money, first. Once they are out of money and credit, prices will really drop. There are just too many homes already on the market, plus still more being built, plus all the ones that will be walked away from and foreclosed.

Yes, why are commodity prices staying high? That is the clue.... Is the Fed going to call in its loans? No, its handing out as much as it can, as fast as it can. Is the government going to increase taxes or cut spending and pay off its debts? No, just the opposite. They have benn...

Creation of credit by borrowing (Federal Deficit and "off budget borrowing") adds to the money supply as that money is spent to buy things, but was never earned via production and sale of produced goods. Thus you have more money chasing the same goods, and therefore demand rises relative to...

You got your point across well, I thought. It sounds like Italy might be in better shape than the US at the moment. How is inflation and unemployment, there? Here, the numbers are lies, so people feel bad about the economy, but they don't know why, exactly, and the government keeps saying...

I think the German's will finally relent when Italy and Spain threaten to give up the Euro, and not until then. The German's still have visions of wheelbarrow loads of marks for a loaf of bread, and the final straw where the woman is feeding marks to the stove because they are cheaper than...

Wait 6 months and see if he still can sing that song....

Obviously, the lower your currency goes compared to others, the higher the cost will be of anything that is imported. But that doesn't mean they will actually report that in the inflation numbers. The purpose of the reported numbers is to allow them to debase the currency and reduce the value...

They can print enough money to get it to 16k if they want to. That does not imply it will be WORTH more, though. The best stock market on the planet last year in terms of percentage rise was Zimbabwe, but only because asset inflation was so high.