Gold: Uncharted Territory

November 27th, 2007 by GoldSilver | Posted in Economic News |

The gold price in Australian dollars has hit an all-time high, closing the week at more than $940 per ounce, after the price in US dollars rose on Friday night and the Aussie dollar eased.

Russell Comment — Gold is now outperforming all fiat currencies. Or let me put it the correct way, all fiat currencies are losing value against gold. This is also true of most stocks and the Dow.

Gold — The nonsense and misinformation about gold never ends. We hear a lot about the “great 1980 rise in gold to a record price of 850″ … Gold has never in all history ended a month at 800 of above. This Friday will mark the end of the month of November. If Friday’s gold is at 800 or above, it will be the FIRST TIME GOLD HAS EVER CLOSED A MONTH IN THE 800s!

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