Gold hit $1700 for the first time on Aug 8th 2011 after the S&P downgrade. Prices dropped thereafter, but has seen a recent rally.
We are back at $1,700 folks.
Today:
http://www.zerohedge.com/news/gold-1700
Aug 8th:
http://www.marketwatch.com/story/gold-tames-1700-after-sp-downgrade-2011-08-08
Quotes:
‘Look, the only place we’re going to get some yield is gold. Everything else scares the bejeezus out of me,’” said Michael K. Smith, with T & K Futures and Options.
Analysts at Goldman Sachs, for one, see further upside for the precious metal. Gold prices will “continue to climb in 2011 and 2012 given the current low level of U.S. real interest rates,”
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