571.7-- more problems on the way?

We know about a lot of problems besetting the US and other countries.

Let's just take 4 only:

The Nuclear problem with Iran. Iran also has friends in S America.

Venezuela exports oil to the US in a big way. It could conveniently find a reason to cut back on this if Iran will be having a hard time.

Then there is the Iranian Bourse to open in March (To be confirmed). If some oil producers cooperate, then the USD will become under strain.

Then there is that non disclosure of the M3 money supply by Bernanke in March. The suspicion is he could be flooding the country with more US currency; at the moment he is trying to cheapen debt by watering down the money supply.

Finally, the new Hamas Govt and Israel's relations with Iran.

Those items alone ought to be enough to maintain upward pressure on Gold.

You can add the US deficits, the Enron style falsification of data by the FED, the oil demand/supply problem; the unhealthy US consumer demand, the political pressure excercised by China, the hoarding of resources by some countries, terrorism.

Alltogether, an enormous upward pressure on Gold IMHO. One problem occurring can be enough to increase the price of Gold/Silver.

Gerry
Readers, please do your own research and you decide if and when to buy, hold or sell any stocks or metals/commodities.