Changes in gold markets.

Two milestones of the gold markets are important now. The 1,680 level was taken out and invetors and institutions are buying in. That pushed gold prices past 1,700 and in fact gold went past 1,760 overnight. By this morning, however, gold was back to 1,740 and references to the 1,760 figures have disappeared. Gold is again rising today.

We can expect the 1,764 figure to be defended as the Stock Market faces its Barakalypse (also called Obamageddon). It still has not dawned on the populace that the best way to safeguard monetary value is through gold and gold mining stocks.

I am tracking two other issues. The first one is the FED meeting today. Some form of QE announcement is expected by some people. Preliminary figures point to a higher stock opening. The second thing is the imbalance in the Markets. Gold/silver ratio has again risen as well as the gold/XAU(gold miner index). The gold/XAU ratio has been around 6 and has now gone to 9. The rise in gold price is said to be due to institutions and shorts and so far the investing public is skeptical. So, we will either see a retrenchment in gold price (gold is way overbought), or an explosion in silver price and gold and silver miners. And, will the Barakalypse continue to the predicted 9,000 before the FED intervenes or will the intervention occur earlier?