And how did you say that Obama fella was working out for you?

(Kitco News) -The early sentiment from the market place is not good
following the late-Friday Standard & Poors downgrade of the U.S. credit
rating and the latest pronouncements from European Union officials Sunday,
regarding their own more serious debt situation. December Comex gold futures
soared to a fresh all-time record high of $1,697.70 in early Sunday evening
trading, up over $40.00 an ounce from Friday's close, while Dow futures were
down over 300 points and crude oil prices were $2.80 a barrel lower, trading
around $84.00 a barrel, basis September Nymex futures. The U.S. dollar index
was only modestly lower in very early dealings Sunday. While it's still very
early in the week's trading activity and many markets have not even opened
for electronic trading, there is an ominous early tone to upcoming price
action in the market place Monday.
http://www.kitco.com/reports/KitcoNews20110807JW_goldspecial.html



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