Those who live by the Dollar will vanish with the dollar , Buy Gold and Silver Now.

The price of gold for immediate transactions in U.S. currency at a new record above U.S. $ 1670 an ounce, boosted by worries about global growth and the debt crisis of the euro area. The price of spot gold of $ 1670 an ounce, up 0.6 percent during the day by at 08:55 GMT, after hitting a record high of 1672.65 dollars
earlier.
Not only the movement of investors to buy gold only, but it also included the central banks. for example the Bank of Korea bought 25 tonnes of the precious metal reserves in order to diversify its reserves . The first
time in 13 years that this institution buys gold in Reaction of U.S. debt

It has become difficult to predict how long the range of movement of yellow metal, where he was expected to slow down , but it continued to break record highs several times in less than a week. The total gains of gold during the month of June was 11 percent , traditional factors are no longer sufficient to
understand the movement of gold, where high prices before the date of August 2 is attributed to the ability of the U.S. government to get approval to raise the debt ceiling U.S., but continued high prices,
even after this date make it easy to expect gold at $ 1800 per ounce in the short term , other factors supporting the price of gold, including the threat of the credit rating agencies to downgrade the U.S. credit score to less than AAA, this threat made a lot of investors turn to the yellow metal as a safe haven to secure their wealth and to escape the loss of the weak dollar and government bonds and this also included the threat of the default of some major European countries such as Spain and Italy. The purchases of Gold by the central banks of countries such as Kazakhstan, Thailand and South Korea contributed to the rise in effective demand for yellow metal markets, which pushed the price of an ounce to move beyond the level of 1673 USD , for example, the central
bank of South Korea purchased during the months of June and July nearly 25 tons of gold in an effort of diversification of its reserves and to avoid the risks of inflation in the coming period.

Bob Chapman - The Financial Survival 03 August 2011

Bob Chapman : people who think that th3e US treasuries are a safe place to put your money need their heads to be checked , usually they are the big hitters
the corruption in our system is so endemic , it condemns our system to absolute failure , Senator Lieberman is on the floor in the senate telling everybody that we have to cut off social security and medicare so that we can pay for our wars ...what are these people thinking about says Bob Chapman ...

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Gold the one and only safe heaven in times like these

" Gold is certainly the most obvious place , when there is any sign of uncertainty , people start to panic " "Gold has a real tangible value and people always flock to gold in times of uncertainty,It is an excellent investment in times like this it has a real value " " David Lowery, equity analyst at Faraday Research told CNBC. "It is an excellent investment in times like this as well because it does have a real value," he added.

Gold Hits Record High Of $1,672 & South Korea Buys 25 Tons!!!!

Gold hits yet another all - time high at $1672/oz and it seems unstoppable as Central Banks acrosse the world continue to buy gold and move away from their US dollar reserves and US treasuries . Gold and Silver continue to rise , and we will likely hit the $2000/oz mark way before the end of this year




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)