Quote:
Originally Posted by KC911
ps: I'm doing small transactions however...I'm not Ian  |
I'm not me either. I am an accidental gold bug & a rank amateur but a 10oz bar sure is a purty thing.
As Tabs pointed out, the midterms will probably dump the price into the 1200s based on enthusiasm but it should be short term & it should spring back. Who knows?
Buffet
says (or doesn't say): "Look, you could take all the gold that's ever been mined, and it would fill a cube 67 feet in each direction. For what that's worth at current gold prices, you could buy all -- not some -- all of the farmland in the United States. Plus, you could buy 10 Exxon Mobils, plus have $1 trillion of walking-around money. Or you could have a big cube of metal. Which would you take? Which is going to produce more value?"
He is right of course, but in this earning's poor environment, with a dumping USD, gold preserves your cash but - as always - it is a gamble.
Ian