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Gold Set to Break $1,800 Barrier On Endless QE Inflation Fears
Posted By kurt_nimmo On October 1, 2012 @ 9:18 am In Featured Stories,Tile | Comments Disabled
October 1, 2012
The price of gold shifted higher late last week as investors looked at the precious metal to stave off inflation expected in the wake of yet another QE “stimulus” move by the Federal Reserve.
On Friday, gold hit $1,773.90 an ounce  on the Comex, its strongest quarterly gain in over two years. It is expected to hold this position despite anticipated bad news on unemployment later this week.
On Monday, it slipped slightly to $1,770.31 an ounce.
In November 2011, gold briefly broke the $1,800 barrier on eurozone woes and fear that central banks would respond to the crisis with another round of inflationary money printing.
The Fed’s “easing” policies will eventually push gold to $2,400 an ounce by the end of 2014, an astounding 26 percent jump, according to one strategist.
“Given the new open-ended nature of QE3, the upward pressure on gold prices should continue until employment is strong enough to require a change in policy,” Francisco Blanch , a global investment strategist with Bank of America Merrill Lynch, told clients in mid-September.
“Since the Roman Empire, all fiat currencies have ended poorly,” noted Guy Adami, managing director of StockMonster.com. “With that in mind, all roads lead to gold.”
The Federal Reserve is determined to create inflation as it papers over the cracks in a disastrous debt-dependent economy. “The surge in inflation expectations has been accompanied, as usual, by a weaker dollar and higher gold prices. Higher prices will follow,” writes Walt Elgin .
The premise of Dishonest Money is simple: Very smart and powerful people are robbing you of your wealth, freedom and future. The system they’ve created to accomplish this is both ingenious and 100% legal. The average citizen, unaware of how the system works, cannot effectively fight it. If the premise of this book is simple, then its purpose is even simpler: Help the average citizen learn “the system” so they can protect their wealth, freedom and future. Stop the thieves before they steal everything. By the end of this short book, the average citizen will be familiar with these terms, will know “who benefits” and (more importantly) will know who pays…
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URL to article: http://www.prisonplanet.com/gold-set-to-break-1800-barrier-on-endless-qe-inflation-fears.html
URLs in this post:
 gold hit $1,773.90 an ounce: http://www.mineweb.com/mineweb/view/mineweb/en/page504?oid=159436&sn=Detail&pid=102055
 Francisco Blanch: http://www.cnbc.com/id/49072875/Fed_s_QE_Infinity_Will_Push_Gold_Up_to_2_400_Pro
 Walt Elgin: http://www.americanthinker.com/blog/2012/09/qe_forever.html#ixzz27KYdZmH0
 Image: http://www.midasresources.com/store/store.php?ref=62&promo=specialOffer
 Inflation Fears May Drive Gold to Record High: http://www.prisonplanet.com/inflation-fears-may-drive-gold-to-record-high.html
 Gold Rises to 18-Month High on Inflation Concern, Weaker Dollar: http://www.prisonplanet.com/gold-rises-to-18-month-high-on-inflation-concern-weaker-dollar.html
 Gold at $2,000 Becomes Inflation-Adjusted Bullseye for ‘80 High: http://www.prisonplanet.com/gold-at-2000-becomes-inflation-adjusted-bullseye-for-%e2%80%9880-high.html
 Gold Breaks Psychological $1,300 Barrier: http://www.prisonplanet.com/gold-breaks-psychological-1300-barrier.html
 Chinese rush to gold as inflation fears bite: http://www.prisonplanet.com/chinese-rush-to-gold-as-inflation-fears-bite.html
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