Monday, Nov 09, 2009
All that glitters
The Motley Fool: The Coming Bubble of 2010 and How to Avoid It
This might excite a few contributors to HPC!
Posted by mr g @ 03:52 PM (787 views) Add Comment
6 Comments
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1. hpwatcher said...
All of the points raised, could be said about almost any investment. Moreover, the arguments are rather unconvincing and half baked.
Can't really be arsed to deal with the points one by one, but investors need to do their own research and do what they think best.
2. mr g said...
HPW@1
I have no strong views for or against gold.
As you say, investors need to do their own research and do what they think best.
3. alan said...
There are a number of global crises which could come out of the woodwork soon. Iran is a big one and could get nasty. Whereas, banks falling over can usually be propped up by spending more taxpayer or IMF money. Both crises could result in a rush into gold.
Gold may well drop down towards $950 in18months as production ramps up. However it could spike up to $1500 in the same period.
As always, the profits are made selling high and buying low. $1106 an ounce right now, virtually at peak (in dollar terms).
4. cynicalsoothsayer said...
Despite the downturn, there's a lot of money chasing anything that looks positive, ie not negative.
5. fallingbuzzard said...
Hmmm, I smell something fishy and I think its the currency $. As we may be on the verge of a global economic recovery, doesn't it make more sense to look at the gold price in Australian dollars or Brazilian Real, countries which feed better off recovery because of their links with mining and extraction industries (coal, iron ore, etc.). Either of these currencies continuing to make a better return than gold for a £ or $ investor, in my opinion.
6. Dr Ray said...
Interesting article. Interesting in that it got published when almost every statement he makes is incorrect or just deluded.
Gold isn't valued by the price of a suit-a suit is valued by its price in gold. Gold is no more a luxury item than £1 coins and in 20 years both will be worth their metal value which will be considerably more for gold than brass. "Demand increases supply and causes the price to drop"- more so when it can be created with a keyboard and a mouse but not so easy for gold. "Gold has barely kept its value after tax and inflation"- no tax on gold. £ and $ have done even worse after inflation!
Comedy Club stuff.