Friday, September 24, 2010

Gold Breaks $1,300 Today For First Time, Eases Back

For the first time in history gold hit the $1,300 mark, although it has pulled back some in mid-day trading.

Gold futures broke $1,300 in New York, as the U.S. dollar continues to disintegrate and investors move to protect their capital.

In London bullion traded at an all-time high as well.

The dollar will lose against the euro for the week as the Federal Reserve reiterated they're poised to stimulate the economy once again when needed, even after the wasted $1.7 trillion which miserably failed, although we'll have to still pay it all back.

Gold has broken records in four out of five trading sessions this week, and there's little to stand in the way of that continuing, although there will be corrections along the way.

Gold futures for December delivery rose to $1,300 an ounce on the Comex in New York.

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