What is going on in Washington is more of a political charade than real budget negotiations. I think over the last week, despite seeing equities marginally slip, investors are looking past a budget deal because they know, that inevitably, this will be resolved.
A lot of fear and focus is going into what will happen if the US were to actually default on its debt, but investors are seeing past that commentary, as at this point it is far too premature. Hence, why gold is one of many assets yet to react. Should sentiment drive gold prices higher in the near term, it would require a further trigger for the momentum to continue.
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Robert Levy
Border Gold Corp.
rlevy@bordergold.com | 888.312.2288
