Remember when an ounce of gold was only $390? My name is Rene, the head editor of a finance blog called Kashkats.com. In this article, we are going to highlight the relationship of the price of gold going up and consumer debt going up. Robert Lutts, chief investment officer of Cabot Money Management thinks that the price of gold will go up to $2,000 an ounce in the next 6 to 9 months.
“Gold rallied even as the U.S. dollar strengthened, helping the precious metal hit record highs versus the euro and sterling. The precious metal has been on a solid footing”
What does the price of gold have to do with sending the bread earner back to school?
The more the country is in debt, the higher the price of gold goes. THE more you are in credit card debt or whatever debt, eventually the higher the interest you will be paying for. What is the solution
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Source: Money Volume 38, #6 http://www.reuters.com/article/2011/07/18/us-markets-precious-idUSTRE7592IU20110718
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