It's silver, not gold, that I'm currently watching. Above $40, a very good selling opportunity presents itself, imo. I don't have much silver, but I think the pullback will carry gold stocks down as well.
May 30, 2011, 12:01 a.m. EDT
Gold signaling hyperinflation?
Commentary: Gold bugs cite lack of faith in paper money
By Peter Brimelow, MarketWatch
NEW YORK (MarketWatch) — Another fabulous Friday for gold has the bugs bugalooing.
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This was in fact gold’s fourth-highest close ever — only three days around the last weekend of April this year were higher.
Gold in euro- and British-pound terms actually reached record highs during the week, very gratifying for The Gartman Letter, which holds most of its substantial model portfolio’s gold position hedged into various currencies, including these. ( See May 23 column. http://www.marketwatch.com/story/gold-bulls-watching-gold-elephants-2011-05-23 )
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This sense of financial crisis is widespread. On Friday, The Gartman Letter uncharacteristically engaged in a blistering denunciation of the Fed for letting the “adjusted monetary base” surge: “In only five months, the base has risen 30%. ... Where are the adults, we ask?”
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Full article: http://www.marketwatch.com/story/gold-signaling-hyperinflation-2011-05-30?link=MW_story_popularb
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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