Trent sent us this: Gold is “fairly expensive” could fall to $800 if Fed moves Midas fund manager says. [JWR’s Comment: I’m dubious about a big correction in the near future. I don’t expect interest rates in the US to change radically anytime soon. If anything, they are headed lower, in a desperate attempt to turn the real estate market around, and boost equities. Also note that the funds have continued to be big gold buyers, even after gold topped $1,000 per ounce. There will be some dramatic dips, but gold is still in a bull market. You can quote me on this: In the long term, gold will prevail, and the dollar will fail.
Items from The Economatrix:
BofE “Nerves” to be Tested as Inflation Jumps to Most on Record
Rise in Jobless Claims Signals Bump in Recovery
Rates on 30-Year Home Loans Fall to 4.99%
Target to Renovate Older Stores, Open Fewer in 2010
How Can Localities Cope if the Dollar Crashes?
Railroads Signal a Tepid US Economic Recovery
China’s Economic Rebound Sparks Price Worries For Country’s Food Shoppers