Hold on to your gold crowns!
If you have not noticed , gold is shining brightly on the investment horizon. It now costs more than 1600 $ for a troy ounce of gold.
I remember that I wanted to buy gold in 2000 to invest as a hedge against inflation and my broker , unusually incompetent told me : "Nobody can make money with gold!" We soon parted ways , because I can only tolerate stupidity for so long, particularly if my own money is involved and went on to persue my own interests .
Slowly , but surely everything I had anticipated has come true and the story is far from over.
Economic uncertainty has mired the Euro and even more so the US dollar, even so the news so far has been pummeling the Euro instead of discussing the potential problems with US bankruptcy.
Well, the latest developments in the US shows that the mighty US dollar is in trouble and the rise in gold does certainly reflect this.
Gold mining stocks are trailing behind and are still a good buy, otherwise any pull back is an opportunity, and there will be pull backs.
Hang on to your old jewellery and gold crowns and wait for the party to get into full swing before you give it away.
The ski is not quite the limit, but it will be well up on the stair way.
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