The Price of Gold

Today is June 8, 2012 and the price of gold is $1597.40 and the market is closed for the weekend. Gold prices were down for much of the day until late afternoon when word hit the street that Goldman Sachs revised downward their Q2 GDP estimates from 2.0 to 1.8% expected growth, which along with news from China of an interest rate cut, (the first since 2008) sent the gold market climbing in anticipation of another QE event. Though the names will be changed since the shine is off of “QE” there will undoubtedly be quantitative easing to alleviate the pain brought by the now worldwide (China, India, Europe, USA) debt crisis. It won’t be called QE3, but it will essentially be the debasement of the worldwide reserve currency (USD) for the purposes of asset appreciation. It will fail and we’ll revisit this situation in several months again. In the meantime, you might want to buy gold from Houston Gold Merchants. We can give you cash for gold scrap and sell you investment gold in a subsequent transaction.

Houston Gold Merchants 832 259 7225