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Originally Posted by Cloudsweeper99  I believe this is completely wrong and misleading. Very few people own investment gold in a quantity that is even 5% of their assets. Very few institutions own any physical gold. Recently, one major insurance company [I forget the name and don't feel like looking it up] announced they would buy a significant amount of gold. This is about the only exception I have seen so far. There are trillions of investment dollars floating around, and when it becomes standard policy for institutional investors to hold a 5-10% allocation of gold, the price will be multiples of the current price. There won't be enough gold to fill the demand at anything close to current prices. The waiter story is irrelevant. |
Due to all the hype from TV infomercials about owning/buying gold and those companies on TV that buy up all of your unwanted jewelry for cash has everyone (common folks who have never owned any gold before) wanting to buy in to the gold hysteria. It is a little rediculous.
I'm talking about every day citizens like this new DC police officer and a conversation with a waiter I had last week at the Old Ebbitt Grill. Reading all the hype, they want a piece of the action but they don't have the cash resources to really make a change in their portfolio today.
Thanks sweeps but comments about insitutions and insurance companys is misleading and totally irrelevant but thanks anyway.
