Lots of brokerages hedging for the next panic sale of stocks, which I'm guessing will come as soon as the Fed quits pumping container ship loads of cash into the stock markets.Can someone give a cogent explanation of why gold is going to go higher? There is absolutely no reason for it.
At that point, gold will again drop like a rock, as they sell at any available price to keep their businesses solvent....Only to have the price begin its upward march again, as all those inflated dollars hit the streets.
See the what the prices did in '08?
24-hour Spot Chart - Gold
Everyone has been betting on massive inflation for the last 3 years. It hasn't happened. There is no evidence of it happening, and lots of contrary evidence. 2008 isn't 2010. The gold rally has gone on for 4 years. Everyone who has thought about buying has bought. Look at every street corner with guys advertising they buy gold. This is more gold ocming in than a major new mine, and lots cheaper.