Well as predicted the summer lows in gold were met. Then comes September when the action starts to happen. Gold hit $1300/oz last week. This equates to about £818/oz on the day. Gold has been up at over £900/oz but the dollar is weakening. This is good news for anyone with gold as gold is priced in dollars!
I live in Aberdeen and the signs of the gold rush have hit our main street in the City. A new “shop” has opened called the money shop. Of course there have always been cash advance outlets but this money shop is smack bang in the middle of Union Street, high rents so they must be doing something right. What are one of the services they offer? Buying gold of course!
You would be a fool to sell gold your gold. There are so many companies offering to buy gold. Why do you think that is? Might have something to do with the fact that gold is going to go to at least $10,000/oz. This is no joke!
The only way the economy is going to start working again is for the FED and the bank of England to inflate the price of everything this will serve 3 purposes.
1) Level the cost of mortgages (property is sniffling the young buyers, they can only just afford mortgages with no spare cash to spend at the end of the month)
2) Align our western currencies with the east to level the playing field for manufacturing.
3) Rid the debt we have.
This series of events is going to shaft everyone not in the know. The only way to protect yourself is to buy gold!