The spot price for 1 Troy ounce of Gold
1,693.30 -95.10 down sharply.
Gold protects wealth when inflation rises, and the national currency is devalued as the fed ramps up the printing presses.
Ben Bernanke keeps downplaying the effects of inflation.
He particularly tried to stifle any fears that gas prices would instigate wide spread inflation.
Wake up Bernanke, wide spread inflation is already here.
Just an example, I had to buy a new car battery yesterday, with tax it came to 110.00. I installed it myself. If I
had the mechanics install it, the price would have been 160.00 or more. The last time I had to buy a battery, it was 70.00 installed.
The Gold Traders used Bernanke to sell, take profits, then get back in at a much lower price.
Trust me, the price of Gold will go back up.
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