All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Monday, August 8, 2011

Gold surges above $1,700 on US downgrade woes

Gold prices surged 66 dollars overnight to an all time high of $1718.20 an ounce The interest for gold was fueled by by S & P's decision to downgrade the rating of the United States, making the outlook for the largest economy in the world more gloomy ,but also the concerns about the debt problems in the Eurozone and its contagion effects . Goldman Sachs also raised its 12 months price target on gold to $1860 and looking at the growth in gold and the rally to continue through 2012
Related ETFs : Ishares Silver ETF (SLV), SPDR GOld ETF (GLD) SPDR GOld ETF (GLD), Powershares DB SPDR Gold ETF (GLD), Newmont Mining (NEM), Barrick Gold (ABX), GoldCorp (GG)

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