$1600 not far away. The interest rate cut and unofficial start of QE4, which will be bigger than 1, 2, and 3 combined has started and it is bullish for Gold. If you are unaware Quantitate Easing is government buying of assets and is basically inflation which is bullish for Gold. The FED had no buyers in the treasury market the other day and the short term interest rates rose to around 10% until the FED step in with 75 billion from the printing press to buy the treasuries and bring the interest rates back down to 2%. The market kinda shrugged this off as nothing but today its 75 billion what if its a trillion one day that's 5% of GDP. With current FED policy this inflation thing is going to get out of control.
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The mistakes by the US Government will hurt poor and middle class which is why you need to listen to me and buy Gold and Silver to protect yourself from these mistakes