Monday, July 11, 2011

Gold Set to Rise as Italy Falls

Gold is expected to rise today in Asian trade after EU boss Herman Van Rompuy called for an emergency meeting of top dogs to deal with the prospect of the EU’s third largest member falling victim to the spreading debt crisis.European equities inch lower on fears that Italy could be the next euro zone shoe to drop hit risk appetite as top European officials hold an emergency meeting to discuss the sovereign debt crisis.Insight on Europe's growing debt problems, with Jim O'Neill, Goldman Sachs, and the Fast Money traders weigh in on financial stocks, gold., and trades to put down today..u.s. bank is getting smirked around by European debt worries. who is getting hit. how much exposure do they have to the spread is crisis. the gold rush is on again. gold hitting a record price in euros is a record in dollars, coming next. Alcoa kicking off an intense earning season. the outlook on company profits. lots to trade as usual .Most of the European countries are going down, like a string of dominoes. Gold will skyrocket and take silver right along with it. If you are at all interested in preserving your wealth, you should buy as much gold and silver as you can afford TODAY!!! With news like this I always have a peak in the safe to drool over my silver. C'mon USA lets get that QE3 going. My silver gets more shiny by the week with all this good news. :) Got no physical silver or gold...your screwed

The PIIGS economies cannot gain control of their currency, until such times that they understand that they have to have a valid economy to begin with, and which they were supposed to have established, by now. Simply exiting the €uro and reintroducing an alternative, national currency, will only temporarily kick the can, down the road, at best. The success of the €uro depends on all the €urozone members/economies working in concert, since the €uro is akin to a gold standard, so long as some participants do not act, in effect, to debase its value, by, for example, bilking the likes of Germany, which is currently on an upswing of economic growth, yet is not guaranteed to maintain that trajectory, as was the case in the 1990s and early 2000s.
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

No comments:

Post a Comment