Tuesday, October 06, 2009

Gold Reached a Record High Tody

Last evening The Independent published an article leaking news that, "Gulf Arabs are planning – along with China, Russia, Japan and France – to end dollar dealings for oil, moving instead to a basket of currencies including the Japanese yen and Chinese yuan, the euro, gold and a new, unified currency planned for nations in the Gulf Co-operation Council, including Saudi Arabia, Abu Dhabi, Kuwait and Qatar." I told my wife after reading it that should the dollar lose its reserve currency status that America would be in big trouble. So it is a big deal when the UN calls for replacing the dollar with a new reserve currency, as they did today.

It is not a coincidence that today, gold reached a new high in nominal terms of $1043.20 per ounce. Gold is up about $20/oz. today as I write this. This is an amazing move, and one that many have been anticipating for a long time. I've been harping on my readers to move some of their assets into gold, and I hope many of you have by now.

The dollar is dying, don't stay attached to it, or your wealth will die with the dollar. The days of $1000/oz. gold are very possibly behind us. The gold price will come down again, as in any market. But the opportunity to move into gold may slip away if you delay too long. I suggest you read my Reputable Gold Dealers post from July to prepare yourself to make a move as soon as possible. I suggest using Lear Capital for your first purchase, as you'll be able to get free shipping, which will save you some money that you can use to get some extra silver rounds. See the links below too.

Buy and store gold abroad at BullionVault.

Get free shipping on your gold and silver purchase at Lear Capital.

No comments: