While there may be a time in the future to get rid of gold this isn’t it! The overall economic environment of debt issues, currency devaluation, high unemployment, high energy prices, high food prices, world economic turmoil, a devalued housing market all make gold a warm soft and golden place to be. When we see true positive economic progress then reconsider your gold position now read the tea leaves in every news paper they spell GOLD.
Certainly forward-looking people who anticipated problems with the dollar started aggressively investing in gold after 2001. Now as it's reached its all-time high it's safe to say that train has left the station.
I believe its value is highly exaggerated. If you can't operate during an economic crisis without gold it doesn't say much for your business dealings, or your good name within your industry.
Re: Gold is Golden
tokyogai
7/25/2011 8:43:43 AM
Jacob- although I am not a gold bug, I think you are right on this one. The pull back last Tuesday was just a buying opportunity. Until we get some clarity with the budget and debt, Gold is king.
Gold is Golden
Jacob
7/25/2011 2:02:33 AM
Scott, once again Gold proves that they are golden and worthy. I think the trend in rising of gold price may continue for the coming weeks too. As of now any investment in gold is worthy and can yield a considerable good yield.
Re: IU Weekly Summary
yalanand
7/24/2011 11:56:35 PM
@Broadway why do you think its manipulated ? Silver is as much in demand as gold is, so I dont see any reason we should be worried about.
The Soros selling gold thing is overrated -- actually what he did was he sold GLD but he also loaded up on a bunch of goldminers so the idea that he is out of gold is a myth. Maybe he just thinks GDX and goldminers are undervalued relative to Gold?
At any rate as witnessed by the gold reaction to the debt shenanigans in Asian markets (+15$), perhaps George regrets selling his gold.
Re: IU Weekly Summary
Broadway
7/24/2011 6:54:16 PM
Isn't the danger with silver that its marker is far more manipulatable than gold?
Or how about this option? To less the risk of being in any one metal, how about one of those "natural resources and minerals" funds?
Re: IU Weekly Summary
mInvestor
7/24/2011 9:57:01 AM
yalanand,
Good point, I will check silver.
Re: IU Weekly Summary
yalanand
7/23/2011 11:55:56 PM
@mInvestor,
I guess its too late now to jump on to golden train, but I feel silver is good bet too. It had recently corrected sharply, i think silver might retest 45$+ levels.
Re: IU Weekly Summary
yalanand
7/23/2011 11:53:29 PM
@Broadway Atleast George Soros thinks that gold is "the ultimate bubble". He has sold almost his entire holding of the precious metal.
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