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Country
1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 08/30/2009 : 20:34:49
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But when $1000 decisively falls, the coverage of this event in the financial and mainstream media will probably be extensive. Nothing attracts in new investment like major new psychological highs, and $1000 gold sure is a big one. It will probably unleash a deluge of new gold investment, driving this metal rapidly higher.
Remember that oil didn’t collapse once it broke above $100, but powered on to $145 within 5 months. And without the stock panic last year, I suspect it would still be over $100 today. Investors chase performance, and a breakout above a big psychological round number really catches their attention. All kinds of capital flocks in to ride the momentum that is suddenly obvious to everyone.
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Gold $1000 Quest
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