Posted on 07/20/2011 9:29:38 AM PDT by Nachum
In the past few minutes both gold and silver have seen a dramatic rally of buying on seemingly no news. The reason for this rally are remarks from a Bloomberg TV interview with FX Concepts' John Taylor, who just predicted that Gold will extend its rally to $1,900 by October, or in three months, coupled with a rally in the Assuie and Loonie as the EU debt crisis eases. But not for long: this record price will be promptly followed by a plunge down to $1,100 following liquidations as the latest and greatest recession grips the world, which he believes will be worse than the 2008 one due to the US running out of "gimmicks" to avert a slowdown. He believes the EU will slow as well, and the euro will drop to $1.15, and may hit parity next year (not a new call for Taylor).
(Excerpt) Read more at zerohedge.com ...
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Is October when they start QE3?
I have heard rumors. Not sure.
interesting question..........if they can’t raise the debt ceiling then........could they still do QE3?????
Hmm, it may be time to lay up shorts on bonds and stocks, but certainly stocks.
“In the past few minutes both gold and silver have seen a dramatic rally of buying on seemingly no news.”
Kitco has gold at $1598.50 as of 12:36 p.m. Up $9.00+ for the day.
I don’t see a surge.
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