RE: tsx GGG Matt = idiot imhoI'm no expert by any means but when guys like matthew Lynn tell me on some Ballon Berg that gold is over valued and that inflation is not a problem I'm apt to go buy some options on Kinross. In fact given the fact that some dumb hack is bashing gold I plan on buy a 5k plus options. How ridiculous does this guy read:
``Grass-roots consumers are renowned for their aversion to price volatility, especially in the gold market, and a gain of 10 percent in a month is precisely the kind of volatility that will deter buyers for a period of time,'' the London-based consulting firm GFMS said in a report this month. It found little evidence of sustained buying from nations such as India or China, where gold has always been a popular investment. GFMS forecasts an average price of $439 for 2005. Gold's lateness in joining the asset-price bubble is a good indication of how far gold has fallen in the esteem of investors. Equities, bonds, real estate, oil, commodities, art and just about every other asset has shot up in the last five years. Until recently, not gold. Interest rates in the major economies, with the possible exception of the U.K., are going up. There will be less easy money around. Growth is about to slow, reducing the prices of all commodities, including gold. The gold rally is likely to be the last for commodities for quite a while. If it goes to $500 an ounce, anyone buying will be in for a rude shock. To contact the writer of this column: Matthew Lynn in London at matthewlynn@bloomberg.net.