Gold Hits New All-Time High, Nears $1650

Gold has vaulted nearly $20 today, and has just placed a brand new all-time nominal high at $1645.30, less than $5 from Jim Sinclair's famous $1650 call!
So much for the debt ceiling hike agreement putting a damper on the gold and silver market....are traders starting to think rationally?
We think more likely its a response to the weak economic data reported in the past week, which has traders realizing QE3 is inevitable, and right around the corner.

MARKET IS OPEN (Will close in 4 hrs. 5 mins.)
		Metals	Date	Time (EST)	Bid	Ask				High
		GOLD	08/02/2011	13:11	1642.40	1643.40				1645.30