Anyways moving right along here's the real scivey on why gold is going up, why it should continue and why you better hang onto it, or get some if you don't have any. Read all about it and if you didn’t get in on the ground floor, well maybe you should at least grab 1/10 so you can feel right about this bull market. "Gold can hold these levels, and while it is slightly overbought in the short term, it remains undervalued from a long-term inflation and historical basis," said Mark O'Byrne, director at bullion dealers GoldCore. http://www.marketwatch.com/story/gold-lacks-support-on-globex-after-record-close-2009-11-03
I have to wonder if it really will hold when the economy comes back strong, and it is about to rebound. I've seen commerce and trading of goods more than triple the last three weeks of last quarter, which is unheard of even in the best of times. Manufactoring is up as well. I hope for all those who have tied up so much in metals with very little commercial use, that those prices remain until they can offload them, but who really knows. I don't see gold staying inflated once prosperity returns. Guy~
I hope you're right! I remember the Carter years. Gold did real well. Then we had 20 years of prosperity and gold had a long slide. I'd love to have another Reagan revolution. My gold will suffer, but I'll be able to make money and buy more gold. But, if the ecomony doesn't rebound, like it didn't rebound when FDR took office, and if there's any kind of global event, then the gold boom will continue unabated. I hope none of those things happen, but alas, I try to prepare for them anyway. Still, I won't be buying any gold at these prices.
You just never know. The only thing driving the price is demand, so the slightest dip in that will be very noticeable. I'd have to think to make money on gold you'd have to want it to sink. Buy low and sell high. If you make a 40-50% return on the turn, you can buy more when it sinks again and continue the process. If it levels off or continues to climb, the potential to make any real money off of it goes out the window. Guy~
Fear and Greed are driving the precious metals. Unusual for both to be positive functions at the same time, IMO. Jim