Global Market Commentary, Analysis and Investments
I’ve told more than one concerned investor that when the gold price falls, they should “come back in three months” and see if they’re still worried. The idea is that the daily and monthly gyrations are nothing to fret over, that the price will recover and, in time, fetch new highs.
That advice has worked every time gold underwent any significant correction (except in late 2008, when one had to take a longer view than three months). Here’s proof.
[Read more...]$1,800… $1,700… $1,600…
We don’t mean to frighten you today, dear reader, but an influential gentleman whose opinion we respect thinks it might end up going much lower.
Heh, not that he’s selling.
Gold traded as low as $1,532 overnight before recovering to $1,603 as of this writing.
[Read more...]A few weeks ago we held our Case for Investing in Gold webcast with the World Gold Council’s (WGC) Jason Toussaint, who gave some remarkable insight into gold demand in the East. In these countries, gold is not only celebrated, acquired, worn or displayed during holidays or special occasions; it is seen as an everyday symbol of wealth.
[Read more...]Until August 15, 1971, wealth was tallied in units of a real and natural thing – gold. It measured out the world’s other real things – its resources and its output. Its main advantage was that it couldn’t be diddled. That turned the authorities against it; they couldn’t make more of it.
[Read more...]Somebody slipped Uncle Sam’s credit card under our hotel door this morning. Well, almost. The image, as captured on the front page of Canada’s The Globe and Mail’s business section, showed the “National Credit Card of the United States of America…member since 1776…valid through 08/02/11.”
[Read more...]After Tuesday’s beat-down and Wednesday’s recovery, precious metals are holding steady. At last check, gold is at $1,598.
Of course, the short correction brought with it the usual cries of “bubble” in the gold market. Even here in our own household, we fielded questions on the subject…
[Read more...]Europe and Washington’s debt ceiling squabble has seen the gold price breach $1600 per ounce and €36,500 per kilo.
The financial media’s standard line is that investors are scared and gold represents a “safe haven”. But how? What are investors scared of that’s led some of them to bid the gold price higher?
[Read more...]Yesterday, the concrete cracked…the glass broke…empire continued to crumble.
Not that there was anything special about yesterday. This happens every day.
In the markets, the Dow fell 54 points. Gold rose to a new record of $1,587.
“Sell stocks on rallies; buy gold on dips.”
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More Upside for Gold as Government Spending Continues Unabated
Have yourself a merry little depression.
Dow up 45 points. Gold down $9.
We’re still waiting for a major correction in the gold market. Each time one begins, it seems to run out of steam before doing any real damage. At yesterday’s closing price, $1,577, gold is still solidly ahead for the year.
[Read more...]