The fundamental factor that caused gold to go up is still in tact. US dollar is declining, there are record budget deficits, we are in a housing bubble that looks like it could correct, corporate scandals that will continue to rise, a looming health care and pension problem that will be more prevalent as the baby boomers retire, inflationary pressures that will continue to move interest rates higher, and geo-political issues that will not go away anytime soon. All these fundamental factors will continue to make gold go much higher, especially as central banks around the world increase their gold reserves as a hedge against the US dollar decline.
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Why Precious Metals