This is the fourth time in the past year that gold has attempted to break the psychological barrier of $1,000 per ounce. So far there has been no follow through.
This morning gold hit a three-month high as the dollar continues to fall and other commodity prices move higher. Oil, for instance, is closing in on $70 a barrel.
Crisis Trader has predicted this scenario for the past four months. Readers who followed my recommendations are heavily invested in oil and gold, and have been short the dollar for four weeks. They have benefited handsomely because of this.
Today, gold ran to $983 per ounce. This is the highest it’s been since February. Last week gold added $20 to its value.
Gold is running because governments around the world are printing money. The U.S. dollar is losing its safe haven status and investors are making bets on high inflation. Right now you can buy equities or you can buy gold. Traders are doing both.
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UUP Is Down
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The only real question left is: When will gold break its record peak of $1,030.80 it set in March 2008?
I’m betting that we will hit new highs within the month. I’ve arranged my portfolio with the safest, most highly-leveraged and undervalued gold mining stocks in the world.
Most of these stocks are up more than 100% since I bought them three months ago. But this run is just getting started. When gold breaks out to new highs it is very likely to gain momentum and head for $2,000. When that happens this four select stocks could easily return 1,000% or more. These will be the stocks everyone is talking about in December.
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