It’s a case that combines history and mystery–and very valuable gold coins. The stakes were certainly high: One of these rare $20 pieces sold for a record $7.59 million in 2002.

Analysis: The deadlock in Washington has gotten so bad that the nation’s central bank is getting ready for what might happen after Uncle Sam bounces his checks.

Gold has nearly doubled since early 2008 when it hit $850. As this is written, gold is over 1600, with silver just over $40! If you haven’t bought silver yet; you should. It is a buy anywhere below $100.

“In 6,000 years, gold is one of the very few assets that have never gone to zero.” Winmill expects gold to rise to $1,800 by the end of 2012.

The report added that gold and silver would push toward their inflation-adjusted highs. Gold reached a “real” high of $2,400 per ounce in 1980. That year, silver reached its real high of $140 per ounce.

“All of the underlying factors are simply continuing to work in favor of gold,” said Brien Lundin, editor of Gold Newsletter. “It’s enjoying the status as an asset of choice in either a ‘risk on’ or ‘risk off’ environment.”

More Americans are looking for a way to add luster to their individual retirement accounts — gold. They are taking advantage of little-known U.S. tax regulations to buy precious metals, coins

“I think there is a risk that the U.S. debt default may happen,” Li told reporters on the sidelines of a forum in Beijing. “The result will be very serious and I really hope that they would stop playing with fire.”
China is the largest foreign creditor to the United States, holding more than $1 trillion

European sovereign-debt markets in chaos threatening the viability of the euro — budget deadlock in Congress — Ben Bernanke implying yet more monetary ease — and this evening Moody’s threatening a downgrade on U.S. debt … and gold goes to new highs

Gold price could surpass $1650 and may even head to $1800 over the next three months. The gold market has changed fairly significantly during the last 2 years from traditional sources of demand into investment demand as an alternative to currency.