Is There No End To Gold’s High?

With the Dow plunging 6.66% yesterday and with its continuing travails in negative territory today, the only safe haven (outside of the Franc and Australian Dollar) seems to be gold.  The price of gold keeps climbing and is nearing 1750.  As long as the economy keeps worsening and sovereign debt and currency issues are not taken care of, gold will continue to climb.

The Only Real Currency

Many analysts see gold as the only real “currency.” It is the only thing with value. With increased skepticism growing about the strength of the US Dollar and the world has begun to murmur the possibility of dropping the greenback as the world’s reserve currency.  Russia and China have suggested a basket of currencies replace the dollar.  This writer suggests backing it with…gold.

About James Cannon

James Cannon is an experienced hedge fund analyst. He has served on the advisory boards for various different Fortune 500 companies as well as serving as an adjunct professor of finance. James Cannon has written for a variety of Financial Magazines both on and off line. Contact James at james[at]