QE to Infinity
Yesterday, the ECB announced its intention to permanently engage in “QE to Infinity,” and today – following another HORRIFIC NFP employment report, any lingering doubt that the Fed won’t follow their lead next week have been dashed.
Gold has surged to $1,740/oz – just below Jim Sinclair’s “angel” at $1,764/oz – above which he believes a parabolic move is inevitable, while silver has surged to nearly $34/oz. Meanwhile, what I deem the WORLD’S MOST IMPORTANT MARKETS – Euro Gold and Rupee Gold – have both moved to within 1% of their respective ALL-TIME HIGHS; above which, I expect a PHYSICAL buying frenzy amongst two billion Euro and Rupee holding citizens.
Andrew C. ("Ranting Andy") Hoffman, CFA
Miles Franklin Ltd.