Tuesday, 8 September 2009

Gold above $1000

The BBC Reports, here, that gold has crept over the $1000 mark for the 1st time in 6 months.

There is going to be more economic bad news on the way once this 'recovery' turns out not to mean 'hurrah it's 2007 again'. But there has also been a flurry of high profile mergers on the cards this week which suggests that companies are getting their ducks in a row and getting ready for some cost cutting as we come out of recession. (either that or they reckon the horrifying consumer hammering HBOS Llyods merger last year has set a precedent for oligopolies to be merrily waved through)

I don't believe there is going to be a significant market crash so my guess is gold is being manipulated and set up for a fall.

But then I'm not a trader or an economist.

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