i wrote about how gold is the future world currency. and all signs still point that direction. but it turns out, the market punishes gold. so just as i tell you when i make good calls, i'm obliged to tell you when i've made bad calls.
obviously following the day to day vicissitudes of the stock market or a single commodity is basically a waste a time. i continue to believe that over a long haul, gold is a lot safer bet than the dollar. that being said, gold is down to under $870 / oz (from over $900 when i recommended it - though it did rise to over $950 shortly after my call). right now i would consider the gold trade to be the maximum pain trade. lots of fund managers are panicking out of the trade putting short term pressure on gold. as long as this market rally continues, gold will continue to be pressured. but at some point, maybe in 6 months, maybe in 3 years, putting your cash into hard assets, like gold, will look like a very good decision.
No comments:
Post a Comment