TSX:MMP.UN - Post by User
Post by
spazzmanon Mar 16, 2011 3:08pm
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Post# 18294707
A note from the Casey Report
A note from the Casey Report
Buy on dips, sell in retirement!
Mar 16, 2011 13:28 EDT
Gold
By Investor's Digest
This advisory points out that the U.S. dollar now buys only 20 per cent as much gold as it did 10 years ago. It's not concerned that gold prices have slipped lately. It's important to keep previous corrections in mind, it says.
Gold has retreated from December's $1,421 high to $1,338, a 5.8 per cent move. In comparison to the steepest drop in recent years of 27 per cent, six per cent is nothing. From the December high, a 27 per cent drop today would mean $1,037.
Gold has been on a long upward drive for years now, but this trend has faced many transitory setbacks. No investment goes straight up — not even precious metals, despite Bernanke's QE2.
With a third of the advisory's portfolio in gold and silver, the fall isn't deep enough for concern, and the reasons behind it aren't credible enough, to warrant a change.
Casey Report
PO Box 84900
Phoenix, AZ
85071; 602-445-2736
$279 a year