Biggest Gold Rally since 2007…what does this say about our condition?

Gold rose to a record above $1,880 an ounce in New York, poised for the longest run of weekly gains since April 2007, as escalating concern that the global economy is slowing drove equities lower.

The metal is set for a seventh weekly advance as worse- than-expected U.S. economic data and Europe’s debt crisis boost speculation that growth will falter. The MSCI All-Country World Index of equities fell as much as 1.7 percent, heading for the fourth straight weekly drop, after Morgan Stanley cut forecasts for global growth.

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