By Seeking Alpha,
November 30, 2009 at 3:30 PM
Mark O'Byrne submits: Gold Gold touched $1,179/oz overnight but has since dropped slightly. Gold is currently trading at $1,171/oz and in euro and sterling terms, gold is trading at €778/oz and £709/oz respectively. There are concerns that we may be on the verge of the second stage of the global financial crisis. Not to mention concerns that the continuing unprecedented fiscal and monetary policies will lead to inflation and the debasement of currencies. An already creaking financial system, attempting to clear up the toxic balance sheets of banks internationally, is now be faced with the risk posed by the increasingly toxic balance sheets of many sovereign governments. »