Posted by | 2.04.2010 at 6:50 PM
Gold took a beating today along with stocks and is back down near $1000 an ounce. People are freaking out over possible sovereign defaults in Greece, Portugal and elsewhere. Instead of heading for gold, they are dumping all assets and heading for Zimbabwe Ben dollars. I don't think faith in fiat currencies will last forever. If I weren't already betting the farm against the dollar by buying a house with a 30-year-fixed mortgage, I'd be adding more gold at these levels.