Gold Holding Up Over $1000
Gold continues to stay above $1000. I was a believer in this run over $1000 as noted here, but part of me could see gold dropping below $1000 if there is another major leg down in the stock market. I’m not sure what the catalyst for such a leg down will be at this point, however. Banks writing down more assets? Fed raising rates? 10% unemployment?
Today’s market is nuts and is incredibly interesting. I’m on the edge of my seat, and incredibly interested to see how this market plays out as we conclude 2009 and head into 2010.
Gold is a great investment, both at current levels and if it goes back into the 900’s. Inflation is a certainty in my view, it’s just a question of how bad it’ll be.