GoldMoney Alert - 1 October 2009

Another New Record

An important event occurred yesterday, September 30th. Though it has received little attention, it warrants mention, and for this reason, I now highlight it.

Yesterday gold closed on the Comex in New York at $1,008.00. It was gold's highest ever monthly close, as we can see on the following chart.

New records are always important. In this case, it confirms that gold's uptrend in US dollars continues. Think about the significance of this event. Everyone who measures the value of the gold they own in terms of the US dollar is now showing a gain in their gold holding.

Though gold has not made a new monthly record high against other currencies, I suggest being patient. It will happen soon enough, given that central banks around the world continue to debase national currencies. Every currency is falling against gold, some are just falling faster, and the US dollar in this regard is 'leading' the pack - I should say, falling the fastest.

Published by GoldMoney
Copyright © 2009. All rights reserved.
Edited by James Turk

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