What an embarrasment it would be!So, gold sets another record north of $ 1780.00 this morning. Gold bugs go wild and the early morning buying seems justified. The the bankesters decide that it is time to bring down the price of gold.
How embarrasing would it be if gold was over $ 1800.00 when Ben Monopoly Man Bernanke give his latest load of drivel.That would not look good. So as I write, GDXJ and many other gold stocks are down! Is this insane or what?
I think it is stomach churning normal. I think what we are witnessing is the fight to the end between fiat currency and gold. The nonopoly money people all want us to land on Boardwalk with the 2 hotels. Again they prevent us from passing Go.
I think this will continue and get even more volatile. If I saw Congress and other governments around the world talking sensibly about how to solve their problems, I would become concerned. I don't see it and I am cofident gold will reach new highs because of this.
I believe that Gold Seniors are the best place to be. I own many and a large assortment of Juniors as well. Too amy, but that's another story.
One of my largest holdings in the junior space is Seafield. I also own Batero.
I believe in the new management and have a long term outlook for SFF. I am sure I will be rewarded eventually.
I also know the GMan has a few more tricks up his sleeve and no doubt there will be more long term pain before the gain.
As I said to my wife many times, I hope I am wrong in my thinking of where I see the gold price going to, because if it does it wont matter how much gold I have.
A happy medium would be acceptable though!
GLTA. The more it hurts to buy, the more likely you are to have a good outcome. IMHO