lakshmiI have not spoken about gold for some time so if you are wondering:  Yes, in my humble opinion gold will continue to go up.  I believe it will trade between $2000 and $3000 per ounce soon.

Yet from what I have seen, even knowing this, few can simply buy and hold.  Usually gold goes down a bit and people sell in fear. Then it goes up a bit and they buy.  In short, they buy high and sell low.

If you are in a position to buy gold, I suggest you buy, take delivery, put it in a safe or deposit box and forget you have it.   Do not buy on margin or try to out smart the short term trends unless you are way, way smarter (or luckier) than I.


This is a reasonable perspective in my opinion from Monty guild’s website:

We aren’t buying into the endless fear and scare scenario, and don’t believe that the European banking system will melt down.  Fear-based reporting may make riveting headlines and draw readers’ attention, but the facts, as we see them, tell a different story and do not support the panic that is sown so routinely in the media.

Personally, I am committed to the world.  For that reason, I put what money I have into Mount Soma.  I would prefer to build housing for people to live here rather than increase my balance sheet.  Anything tangible, like gold or a home, will, in time, vastly out perform cash.  But do not take my word for it.  You need to make that call for yourself or consult with whomever you believe in.  That is your call.

After all, I am not a financial advisor.  I am just a “fool on a hill.”

© Michael Mamas. All rights reserved.