But it is as simple as this - it would seem that CGNAO got it bang on the button.

Inflation and the devaluation of sterlings worth is wreaking havoc on cash savings.

And the banks are starting to drop -- will the domino effect continue on Mon ? My guess is the markets are starting to get real about the current financial state of the Banks Governments and the World Economy - I think we will see a massive rush towards Gold and commodities Mon.

Just who would want their money in a bank, any bank for that matter right now??

The 99% of the population who don't have a frecking clue what's going on?

Gold is a currency. As Greenspan once said (in one of his more sensible moments):

Gold is the bankers' conscience.

looks like the gold rampers were right then!

It all depends on what happens with IRs here i suppose.
If they raise to counter inflation ...suddenly stirling starts to attract investment.
(but helps HPC :-) )

Regardless as the US economy turns to sh1te you will get
US investors running to gold + silver.
I also expect some western CBs to buy more to increase credibility in time.
so gold i think is a one way bet for at least another 1-2 years.

but remember gold does not earn interest...so when the US economy has bottomed
look to move away and maybe buy shares on the cheap.

2007 gold has risen aprox 30% per yearish.
2007 savings gets around 5-10% depending on deposit location etc.

FYI
Ive got some gold...not much ..but some(physical)..ill add some more 1-2k this week.
Ive also got savings in NSI.

Tonights short term update on elliotwave says the next deal for gold is back down to $800! Good luck goldbugs!

If your talking about Bob Prechter from elliott wave, well I heard him on an mp3 with Jim Paplava a few years back and he said silver was finished at $14 and that ALL commodities would go down. He's been consistently wrong on the PM's over the last decade. He's a deflationist and he is wrong because wer'e getting inflation, that is obvious.

But it wouldn't surprise me if gold pulled back to $800. Pull up a chart of the 70's bull and you will see a few similar retracements.

yes - however he's been very accurate since I've been interested. Made me well over £50,000 this year. It is not obvious at all that we have deflation. What do you think happens when the bubbles of oil, wheat and metals finishes? The answer is deflation, you can't raise or lower prices for ever!!

Prechter? Im reading one of his books now...I really like the behavioral economics bits, but this 5 up 3 down wave structure seems a little too 'set' for me, its also open massively wide to interpretation...

50k up? on what sectors??

edit: also, in his book he writes that he expects deflation, but that inflation is not off the cards...

Sectors of us banking and real estate. He only expects deflation now that is for sure. It is expected pretty soon now, but as the revious poster said he is no god when it comes to timing. He just believes deflation will come when the inflationary sectors have finished doing their bits - commodities!