The gold price
The "Rich Man's View" of Gold - 29 July 2010
The big news in this gold chart isn't news at all...
The "NEWS" in the gold charts is the near-$100 per ounce decline over the past month, writes Brian Hunt in Steve Sjuggerud's Daily Wealth.
This price weakness has a lot of investors stressing out and searching for an explanation for what's happening to the No.1 form of "real money".
But here's a gold chart showing why stressing over the decline is crazy...
Remember, gold is one of the world's most difficult-to-price assets. The metal cannot be valued like a piece of real estate (using rental yields) or a share of stock (using book value). It can trade on all kinds of wild emotions.
Thus, huge swings in the Gold Price chart have proven to be the norm...not the exception.
Given gold's volatile nature and the recent price weakness, we again urge folks to take the "long view" (aka the "rich man's view") of gold...and note that the gold chart could show a fall all the way down to $900 per ounce...and still remain in the confines of its bull market.
It would also, I believe, be a wonderful chance to buy more.
Want to Buy Gold today – with no risk of default or leveraged losses – and hold it securely in ultra-safe vaults for just $4 per month? Start Gold Investing here...
The "NEWS" in the gold charts is the near-$100 per ounce decline over the past month, writes Brian Hunt in Steve Sjuggerud's Daily Wealth.
This price weakness has a lot of investors stressing out and searching for an explanation for what's happening to the No.1 form of "real money".
But here's a gold chart showing why stressing over the decline is crazy...
Remember, gold is one of the world's most difficult-to-price assets. The metal cannot be valued like a piece of real estate (using rental yields) or a share of stock (using book value). It can trade on all kinds of wild emotions.
Thus, huge swings in the Gold Price chart have proven to be the norm...not the exception.
Given gold's volatile nature and the recent price weakness, we again urge folks to take the "long view" (aka the "rich man's view") of gold...and note that the gold chart could show a fall all the way down to $900 per ounce...and still remain in the confines of its bull market.
It would also, I believe, be a wonderful chance to buy more.
Want to Buy Gold today – with no risk of default or leveraged losses – and hold it securely in ultra-safe vaults for just $4 per month? Start Gold Investing here...
Steve Sjuggerud, 29 Jul '10
Former stock-broker, mutual-fund vice-president and hedge-fund advisor Dr. Steve Sjuggerud is the founder and editor of True Wealth. Launched in 2001 and now one of America's best-followed newsletters for private investors, True Wealth also provides free analysis and ideas in the Daily Wealth email service.
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