Now at $1207
You may be wondering, "why the hell does he keep posting gold prices"?
Because currently, gold prices are a reflection of confidence in the strength of the US dollar. Why is that important?
Because unlike idiots like Paul Krugman, sane investors understand that there's a point in which the US cannot conceivably pay down it's debt without doing one of the following a) default and not pay or b) just print more money which will create hyper inflation throughout our economy. Before the Obamunists took over, we were already heading to that spot. These morons slammed their foot on the accelerator.
So when investors see annual US budget deficits measured in TRILLIONS as opposed to BILLIONS it doesn't give them a lot of hope that our government is serious about responsible spending. When you add the TRILLION dollars of debt needed to fund a healthcare system that will do nothing more than hurt American businesses and consumers, you start to catch on that investments in dollars is not an attractive investment alternative.
So, in my opinion, gold is perfect barometer of The Messiah's approval rating. Polls don't mean nearly as much as what people are willing to invest in. Right now that doesn't appear to be the US.
If you want a non partisan piece on gold inflation, go here.....