The typical American household is thinking about more practical presents in these recessionary times: PG&E gift certificates...bread machines and pasta makers...survivalist seed packets...battery chargers.
The bottom line is gold’s upleg is still young. Gold’s strong recent gains were mostly driven by stage-one gold-futures short-covering buying, which isn’t even finished yet.
Jobless claims are not rising fast enough and the government wants to see jobs hurt. The second problem is that the GDP numbers were revised higher and that is not what the markets want to see.
