Brien Lundin
Brien Lundin Articles
Gold’s up nearly $100...again...as I write, and even I’m stunned by this rally. This run in gold, now to over $3,400 on a spot basis, has been so remarkable that even the major media are, well...remarking on it.
It's getting crazy now, and it's obvious gold is telling us something. It began last night, as the price of gold began to take off in overseas trading.
The world is worried. And typically in such an environment, investors across the globe rush to three safe havens: the U.S. dollar, U.S. Treasuries, and gold. This time is different — because they’re dumping the greenback and Treasuries......
It isn’t often that you check the markets over your first cup of coffee and find gold up over $100. But that’s precisely what greeted me as I switched on CNBC this morning.
Gold has not only held the lofty $3,000 line, it’s advanced well beyond. This raises the question...why? After a dizzying run to $3,000 that has stunned even the most ardent gold bulls, the yellow metal has continued to climb.
Well, that was quick. I recently wrote about the detailed technical setup for gold that was predicting a correction in the gold price. I shared a couple of areas of concern.
Gold continues to explode higher as fractures spread in the global gold market. I’ve been reporting on the extraordinary gold flows of recent weeks, which have been driving the price of gold to record levels.
Gold’s back in the mode of setting a new record high (almost) every day. Sure, it's taking a break today, down a few dollars after a torrid run over the past week.
While the speculative fervor has temporarily abated for gold, the fundamental, long-term drivers continue to support the price. Every year at this time, we find ourselves having to think twice before writing a date.
“Don’t look a gift horse in the mouth.” That was my first thought on seeing gold up about $45...and silver jumping 4%...this morning while other markets weren’t confirming the moves.
