Quote

Aden Forecast "Uncertainty is the only certainty"

ReportGold
Date05/11/2010
Loaded Date05/12/2010
TitleTurmoil Hits the Markets
Quote"Last month's optimism didn't last long before Goldman Sachs and Greece took center stage. In both cases these unfolding stories affected the markets in a big way. As the Goldman facts emerged, Wall Street became an even dirtier word than it was before. The public held it largely responsible for the housing fiasco, foreclosures, the recession and unemployment. While we certainly don't condone what happened, a few greedy traders and companies were hardly the sole culprits. Nevertheless, they were an easy target and they're now getting the brunt of the blame. We all know it wasn't that simple. It rarely is and it's the same story with Greece.

Greece is heavily in debt, but so are many other countries. It was just the first to suffer the hangover after the big party. Others are following, like Portugal and Spain. This created serious concerns that the crisis could spread as the shadow of another financial crisis lurked overhead.

As you'd expect, the markets have been volatile and filled with turmoil. Safe haven buying and risk aversion returned, fueled by uncertainty over what might happen next. Despite the huge bailout, no one really knows. And even though the markets have settled down some, they're still nervous.

As a result, gold is clearly benefiting. . .it's now at an all time high! The action in gold just keeps getting better and there are several solid, fundamental reasons why."