The US will probably print $2 trillion usd to save U.S. cities that are declare bankruptcy. This should have the effect of devaluing the USD and cause inflation.
You should know that gold is an inflation hedge.
The US circumstances have changed yet again.
If you don't adjust with the market you lose money.
Everything can change in a second and therefore I am willing under exceptional circumstance to change my position.
I wouldn't be running out and buying gold yet. The market has not conceded the problem is this big. The seeds were sown in media reports that the problem is around
$2 trillion therefore the odds look in favor of gold.
Personally I wouldn't bet on it but gold has broken $1300 which seemed to be triggered by U.S. city debt issues.
I'm cautiously optimistic but sitting on my hands.
If I owned a hedge fund I would be buying gold on this news. I would be very careful also because China is very deflationary which could act as a counter balance.
If gold breaks $1350 I might start looking closer.
gold could rally, page-3
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