GOLD UPDATE
The Three 2012 Events You Need to be Watching
We wanted to update our members on 3 major events that everyone should have on their minds when considering more accumulation of physical gold and mining shares.
- As the Greek exit is drawing closer, gold is responding the way it should, as the only true safe haven. As the European crisis worsened, last Friday the Dow was down 2.22%, gold was up 4.05%, and the HUI (gold index) was up 6.75%.
- June 19-20th the Federal Reserve (FED) will be meeting. It is likely that the FED will announce more quantitative easing (QE) around this meeting, any later will put the banks at risk and further depress asset prices before the election, something we don’t think the FED sees as an option.
- The debt ceiling will be breached sometime in the fall of 2012, the debate to raise it again should be very political around election time and could result in another downgrade for the U.S.
All of these 3 events that we believe will unfold in 2012 and are Extremely Bullish for Gold!
