Just as expected. US is in deep trouble. A brittle global economic recovery and precarious debt situations in the United States and Europe have boosted the safe-haven appeal of gold, lifting bullion to a series of record highs in July, as investors and central banks chased prices higher.
I understand from a news that South Korea's central bank bought 25 tonnes of gold over the past two months. Gold will continue to climb on concerns if QE 3 may kick in early. Meaning US start printing more dollar.