By the time of this write-up Gold had soared to uncharted territory in response to the bleak economic signals from USA and the Euro zone.
Things did not begin on Friday night, when S&P downgraded US credit rating but US economy was already in doldrums and was falling in the negative spiral. US has amassed the debt which is almost equal to its GDP.
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| Chart courtesy: Kitco |
Investors are fast losing faith in US treasury products and they shifted towards the safer havens like Gold. And this was not unanticipated, in my earlier posts; I had recommended my blog readers to buy gold systematically.
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