Gold Meltdown Shaping Up
The later stages of the speculative market binge that started in August 2009 will be signaled by the meltdown of gold. By meltdown it would not surprise us that gold in the 600’s will be seen by mid-August.
John Mauldin’s current letter, which we refer to in our links section is a must read this week. It is on commodities and the issue of packaging them as financials along with the China effect on commodities in general.
Election results point to the continuing move, which started with the Obama victory, of the grassroots electorate, whether conservative or liberal, becoming a bigger factor in the decisions in Washington. That is not good for speculators either.