As the gold market continues to move higher, more and more people are interested in investing in gold and silver. Also, the crisis in Greece has made people more aware that entire countries can default on their debt. Including the U.S.
One thing that was quite interesting is that I saw two price targets for gold: $5,000 and $7,000. As I have mentioned before, according to several measures, an equilibrium price for gold may be $6,000 per ounce.
The Gold Stock Bull has these interesting videos by The Young Turks about the chaos in world markets. It seems that some smart money betting on the collapse of the U.S. economy.
Business Insider points out that China is now buying tons of gold. China’s massive economic power could have significant effects on the gold market.
Here’s Daily Markets’ technical analysis of the gold market. According to Toby, it won’t fall below $850 per ounce.
As more people become interested in gold, demand for gold EFT’s has increased as well. Tim Iacono at The Mess That Greenspan Made talks about how All Gold funds are not the same.
Speaking of $5,000 per ounce Finance Moz put together this video about why gold will hit this target in the fairly near future.
That’s a roundup of some interesting posts about gold over the last few days. I’d love to hear your opinion about the future of the precious metals.
Internet, Investing, Money, US Economy
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