GOLD 0.51% $1,391.7 gold futures

US interest rates locked in to be low for next 2 years or so. US...

  1. 848 Posts.
    US interest rates locked in to be low for next 2 years or so. US debt ceiling up. US credit rating down grade. 10 year bond sale tonight as well as 30 year tomorrow night. Who is going to buy US bonds with a credit down grade coupled with locked in low interest rates? You would think no one accept the US. For the US to buy them they need to print money, i.e more QE type initiatives. Short term will they drop the market again and then initiate some sort of QE? That 61.8 % Fibonnaci DOW retracement looks possible (high 12800, low 6500). Linear Fibonnaci puts the 61.8% at about 10,400, exponential Fibonnaci puts it at around 10,000. We hit a low of around 10, 600 last night. Will the DOW continue correcting or will it tank again to 10,000? Ben speaks on the 26th this month I think, may be that is when QE3 or something of the sort comes into play. Will be interesting to see tonight's bond auction results in the US. Just some thoughts and I am interested in anyone's feedback.

    Anyone know anything about the rumor that Mexico might back their Peso with silver next month? You just get the feeling silver is about to explode within the next 2 months?
 
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