Gold, platinum hit record on South Africa mining halt

Gold, platinum hit record on South Africa mining halt

www.reuters.com

NEW YORK/LONDON (Reuters) - Gold and platinum soared to historic highs on Friday amid a power crisis that shut South African mines, firm oil prices and expectations of more U.S. rate cuts.

South Africa's three top gold producers and the world's biggest platinum miner suspended production at all their mines in the country due to a power crisis.

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Related News Links:
www.abc.net.au
www.marketwatch.com

Bob Champman of the International Forecaster has indicated gold would rise to $1,000 this year but this article is claiming $1,250. Others are saying it will go as high as $2,000. If you're not in, you should get in.

www.reuters.com
(visit the link for the full news article)

Originally posted by Jacks56


...International Forecaster has indicated gold would rise to $1,000 this year but this article is claiming $1,250.
Others are saying it will go as high as $2,000.
If you're not in, you should get in.

this South Africa power crisis, has the earmarks of an orchestrated
'problem'...
after all- - the last year has seen S African gold mining production
sustain an unexpected decline, and now this unilateral halting of working the mines...

I personally suspect that the big wheels/money makers/ elite financiers,
are trying to manipulate the global gold and platinum markets,
or at least
have a tremendous leverage in creating the newest 'bubble'
...after the collapse of the dot.coms & the housing bubbles along with the credit crunch the hungry for money elites need a new market to tinker with,
and precious metals looks like their target.

[edit on 25-1-2008 by St Udio]