Gold Climbs to $1,300 on Dollar Concern; Silver at 30-Year High – Bloomberg

We’ve been saying on the podcast for a long time now that this is coming.  Don’t watch the markets, as they are so manipulated that they are deceiving.  Watch the US Dollar Index (USDI) and the price of gold and silver; these are your indicators on where the economy is going.

Now that we’re going to get another batch of printed money from the Federal Reserve, you can almost see hyperinflation on the horizon.

Get ready folks, it’s coming.

Gold Climbs to $1,300 on Dollar Concern; Silver at 30-Year High – Bloomberg

Gold futures rose to a record $1,300 an ounce in New York as investors sought a protection of wealth and an alternative to a weakening dollar. Bullion traded at an all-time in London and silver reached the highest price since 1980.

The dollar headed for a weekly drop against the euro on concern the Federal Reserve is moving closer to boosting debt purchases, while European equities declined. Gold, which usually moves inversely to the greenback, advanced to a record for the fourth day this week. Silver, which is used in industrial applications, headed for a fifth weekly advance in London.

“Gold is showing there is no confidence in the dollar,” said Bernard Sin, head of currency and metal trading at bullion refiner MKS Finance SA in Geneva. Recent “data has been showing signs of a troubled economy. That’s why we’ve seen this huge buying for investors as a safe haven.”

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