The worst financial crisis the U.S. has ever experienced is not over by a long shot. And that virtually guarantees much higher gold prices. In fact, in just over one week gold has gained as much as 14.5%!
And the $700 billion bailout package? Well if Congress passes it the dollar will get battered, anticipating massive money-pumping, and more inflation. If Congress doesn’t pass it or passes it with certain conditions — there’s no soothing over the markets. The crisis deepens. And what do any of these scenarios do to gold? It drives it higher!
Hence, I repeat my view from last week … if you haven’t already, look to move immediately to a 25% core gold holding in your investment portfolio.
More on this topic
(What's this?)
Gold - Long Term Thoughts
(Gold Versus Paper, 9/20/09)
Warning on Paper Gold
(Red Hot Energy and Gold - Global..., 9/21/09)
Gold’s Two-Faced Disappointment
(Investment U, 9/21/09)
World Gold Panic
(Wealth Daily, 9/26/09)
Related posts:
- What The Heck Is Going On With Gold? The top question I’ve been getting from subscribers these days is about what’s going on with gold and whether or...
- Gold’s bull market not over by a long shot! Since July 31, gold has fallen hard ― by more than $100 an ounce. But don’t be fooled by this...
- Gold rallies to 2 1/2 month high – where to… While the dollar dropped to a two-and-half month low against the euro yesterday, gold closed at a fresh two-and-a-half month...
{ 2 comments… read them below or add one }
So, IF this wild scheme comes true, would GLD move in concert with the rise in gold? Also, would you expect to see silver rise, or would the price relationship between gold and silver be completely disconnected? Thanks, Jeff
My forcast for gold is a sharp drop to $400, then possibly dramatic rebound, eventually beyond $2000. I have asked you before “what do you think about deflationary scenario”. Now, After considerable price declines in commodities,
housing, stocks, which as a rule should drive retail prices lower, M&M are talking about change in their outlook. They seem to suggest to SELL GOLD. Am I going to read on this site to sell gold? ps Do not get me wrong. You are one of the best
investment guides in the world. I am not here to critisize you. I prefer you to be right.