Numerous Economic reports are due next week... These reports (CPI, PPI, Housing, Jobless Claims, Leading Indicators, etc) should provide some indication as to future fed decisions/actions, and will either spook or continue to bolster confidence in the markets.
Though the reports (through skewed data) will try to paint as pretty a picture as possible for the economy (putting lipstick on a pig), I think unexpected data will still leak through and we'll see/experience a wild week in the Dollar, Stock Market, Commodities, etc.
Update as of Sunday evening, 8:30pm PST: Looks like the world spot markets are starting off the week with enthusiasm. Gold is up $8.40 ($605oz), Silver is up .35 ($13.30oz), and oil is >$71 a barrel. Could be a very interesting week.
3 comments:
Great blog.
I suppose the question is high high can gold go, and what is its long term stable price?
Andy
sorry, I meant to say , how high can gold go.
Andy
No one knows.... Will depend on a myriad of factors (Oil, Dollar, Inflation, Fed Policies, Central Bank Diversification, World Economy, geopolitical issues, etc).
Personally, I think that within the next 3-5 years, we'll far surpass the previous all time high of $800+. In todays inflated dollars, that'll be > $1,200 oz.
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