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February 7, 2012

Gold: The Bull Finally Righted Itself

January saw an end to gold's recent malaise as the bull finally righted itself, running on the news that the Federal Reserve will continue its pro-inflation dollar expansion until at least 2014. Gold finished more than 146 USD/ ounce higher (9.1 percent) than where it started, closing out the month at 1,744 dollars per ounce.

The yellow metal looks ready to break the important psychological barrier of 2,000 dollars per ounce by the end of this year, as the glimmers of recovery hopes fade from the headlines and the Fed responds by deepening its failed policies.

Silver prices also rebounded, finishing 16.7 percent higher for the month at $33.60. - in Schiff`s Gold Report

Related, SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX)

Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.
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