Where can Europeans put their moeny ? PIIG debt are going under 3%. They are still bankrupt, little economic growth. Anti Euro candidates gaining seats in European parliament election. Draghi wants more inflation, Draghi wants negative interest rate.
Cantor election loss is sending every Republican congressman into Tea party frenzy. You can forget the next budget compromise, next debt limit raise. The default of US Treasuries now an imminent possibility.
Next news you hear will be Europeans walking into gold shops buying coins and bars. They will outbid the Indians and Chinese. Makes me wonder when will 90% Americans who never bought a gold coin make their first purchase.
If the news is true this gold bounce will grow real legs. I think its good for a $100 run. This just might touch off a feeding frenzy, panic buying in China and India. Gold go even higher. Last boat is leaving the dock. All aboard...