United States Gold

Gold experienced a day full of price jitters, fits, and starts in New York today, as players digested the near-term market fallout from the ECB ...
As it turns out, global markets were correct in their anticipatory behavior early on Monday morning. Trouble is, the markets only thought that the rescue bill - as written - would not quite be the sought-after cure for the frozen credit markets.
Following the U.S. Fed and Treasury Department's blatant intervention raid on gold and silver to bolster the U.S. dollar, the few large U.S. banks that hammered the futures markets with an avalanche of short futures sales have covered most of the short contracts in gold, but not silver, yet.
No one will deny that last week was one of the most tumultuous in history. The streets red with blood... the bodies of the dead and dying strewn about where they fell.
The dollar has got some fundamental problems looking forward, and those problems can't be rectified easily.
Despite falling gold jewellery demand, investment demand continues to support higher prices in the gold market.
Until you see a clear statement from the government that they want to appreciate the dollar, I think you're not going to get any abrupt improvement in the dollar, and you're not going to get another collapse in the gold and commodity prices.
This is a world of stuff. You want to own stuff in the modern world. But you only want to own stuff when it's going up - and stuff doesn't all go up together.
But the proposal still faces at least two key hurdles before becoming a reality. And the reality may have little impact on the market.
That we are moving into - or already are - in a recession is practically a given. But what will it be: inflationary or deflationary?