Gold Prices Today Blow Past $1,400

For the first time spot gold prices today have soared past the $1,400 an ounce mark as economic conditions and economic decisions by the government and Federal Reserve continue to feed the gold price beast, which isn't going to change for some time.

The latest is of course the decision by the Federal Reserve to print another $600 billion to acquire government bonds over the next 6 months.

That will push up inflation, which Fed chairman Ben Bernanke has said is part of his goal. Interest rates will also be held where they are, helping to support goal, along with other elements.

Also a factor is the falling price of the U.S. dollar, which is largely the consequence of U.S. monetary policy as well, which will continue top plummet as more and more money is printed.

Even though called "quantitative easing," that's just a new description of the old phrase of printing money, or inflating. It's just being used by the Federal Reserve in an attempt to cover over the consequences of what happens when they implement these policies and actions.

There will continue to be corrections on the way for gold prices, but there is little, if anything, to stand in the way of it continuing its upward run, even if a correction ends up being a major one at some time.

Gold prices had reached over $1,402 so far today.