So we saw gold fall a hundred plus dollars in a day and I say, it’s fine.
People talking about well the ‘manipulators’ are dumping it… blah. Well its true according to my research that they do manipulate the gold market with um paper like ETFs. So what?
Really, about a year ago we stated that gold would find a bottom if it tried it, at $1350. That proved true so far. I see gold as being almost an independent intelligence.
How could gold do that????
I am not joking.
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You have all these rich people who associate gold with wealth. It’s not going away soon. Can gold be pushed down with paper markets? Yes.
The gold market will merely recover. Why? Because gold is considered a haven from financial risk and also from geopolitical risks of wars. Etc. I am not writing this piece to like encourage you about gold. If you are not happy with a 500 pct. gold price increase in the last ten years, just close this article. Find a better place.
And besides, gold is NOT an investment to me, its savings. Its money, not like something to make money on. And people think because gold rose 500 pct. in the last ten years, oh it’s a way to make money….. NOT. Laugh. It is savings. Period.
Gold is like a separate intelligence
I really know that you have to think of gold as a separate entity. This is not some Microsoft stock that depends on some company doing things correctly. Gold is considered worldwide as wealth, its inside the heads of people worldwide as money… and you just are not going to get rid of that psychological and I will say Spiritual presence of gold in people’s minds, and that goes for Silver too.
Anytime gold drops like this, and this was an epic drop, I consider the HUI stocks and they are so low now that I have said to my subscribers the HUI is a buy. Maybe it can drop more. Again I say so what? You don’t look at gold stocks or gold as an investment, it is savings and that is the way the gold mining companies look at it. They are in a very fundamental sense sort of the definition of money. Stay with it. Just hold it.
We have made lots of predictions and recently had predicted that gold’s bottom would be $1350. Stop by and have a look.
Editor at www.PrudentSquirrel.com
Disclaimer: Chris Laird is not an investment advisor/professional. This article, and the PrudentSquirrel newsletter, and alerts, are general market commentary only. They are not intended as specific advice. You should talk to your own investment professionals for specific advice. Information here is deemed reliable but should be verified by you if you think it’s important. Copyright 2013 Reprint permission: You may reprint this article if you post it in full or give a link.
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