Quarterly Summary On Gold And Various Markets

• Print
• E-Mail

This is a follow up to the 2009 year forecast issued on Jan 16, 2009

http://new.goldmau.com/article.php?id=1350

In the first quarter of 2009, we reached the climax of US banking and financial collapse.

* Citigroup was brought down by souring mortgages and traded below a dollar. US government now has a controlling stake.

* Dow Jones traded below 7,000, not seen since 1998.

* The Fed having printed over $1.5 trillion to buy bad debts, promised to print $trillions more to buy mortgages and long term US treasuries to keep rates low

* Global central banks lowered and kept interest rates nearing zero percent

* Asian markets and commodities markets gathered momentum and broke away from US equities. Oil surged $15 from the low $35 to trade at $50.

Citigroup's 20 year chart and stunning fall from grace.

Our January calls so far have been mostly on track. What's in store for Q2 2009?

Gold: