GOLD PRICE ERUPTS $130: Gold Soars A Staggering 9% As It Approaches The $1,700 Level Before Pulling Back, But Look At This…

GOLD PRICE ERUPTS $130: Gold Soars A Staggering 9% As It Approaches The $1,700 Level Before Pulling Back, But Look At This… from King World News

The price of gold soared a staggering 9% as it approaches the $1,700 level before pulling back, but take a look at this…

Chaotic Early Trading On Tuesday
March 24 (King World News) – Peter Boockvar:  Turnaround Tuesday after the strong rallies overseas but we still need this bill passed in Congress without some worrying about airline emissions right now. Save that for another day…

Now that the Fed is buying corporate bonds in a workaround to the Federal Reserve Act, along with everything else they are doing EBAY better watch out because they might start buying what you’re hocking from your attic. We are also not far removed from the expressions of worry on the part of some Fed members expressing concern about excessive corporate debt that the Fed itself encouraged and enabled via its easy money policies so just as we saw in the last expansion and financial crisis the Fed lights the match and then shows up in the fire truck.

US Dollar Tumbling As Gold Spikes
In response to QE infinity and the Fed can now buy anything that is not locked down (but please DO NOT BUY US STOCKS as what’s left of capitalism will never be the same), the US dollar is down for a 2nd day across the board (the oil rise is also helping commodity currencies and EM) and gold is up nearly $100 after spiking by $85 yesterday. Silver is finally off its mat after indiscriminate selling over the last few weeks and I expect both to go much higher in this world of monetary anything goes.

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King World News

Interviews with market experts from around the world with a focus on precious metals.