Gold hits record near 1150/oz its a great time to own gold or own Goldman. Recently Goldman and Buffet started a 500million dollar charitable donation, while tipping its employees 19billion dollars. It seems to me there trying to appease the masses. And then today on Yahoo there was pretty much a piece of "News" telling us that we should forgive and forget and they even talked about how theres all these conspiracy theories and how we should take it as a joke, he said take it like jay leno. Even though at points it seems like they admit its goldman's way to pretend they are saving the world and doing "God's Work" Watch the video and see for yourself. Goldman Says "Sorry" And The World Moves On.
Well anyway Gold seems like it would have been a great buy a couple of months ago and may still be a good buy with more reserves being transfered into gold. also with our federal reserve policy if there is inflation gold goes up and if there isn't gold goes up. But at least for our dollar sake gold is hitting high's in other currencies too.
Gold traders are awaiting key U.S. consumer price index numbers later in the day for clues as to the next direction of trade, both due to its effect on the currency markets and on bullion itself, which is often seen as an inflation hedge.
"Low inflation pressures are traditionally a negative for gold prices," said HSBC analyst James Steel in a note.
"If, however, weak inflation data are seen as allowing the Fed to continue to pursue easy monetary policies, this may be seen as supportive of gold."
Gold rose in currencies other than the U.S. currencies, reaching its highest since late February in euro terms, since early March in sterling terms, and since early May when priced in the Australian dollar.
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