The gold price
Gold's Smooth, Long-Term Uptrend - 5 July 2010
The Gold Price began this bull market in 2002...
NOW THAT the Gold Price has soared from $925 an ounce to $1200 an ounce, it's amazing how many people CNBC trots out to explain every random $20 move in the metal, writes Brian Hunt in Steve Sjuggerud's Daily Wealth.
Trying to analyze every move in the Gold Price is a waste of time. We don't see gold as an investment. We see it as real-money "crisis insurance". We bought our gold long ago...and we hope to never have to use it. Not much more "analysis" is needed here.
We also encourage folks to take the "long view" when taking stock of their gold holdings. This long view – a 10-year chart of gold – is our chart of the week.
Gold began its uptrend in 2002. Since then, it has climbed higher every single year...and now sports one of the smoothest long-term uptrends in history.
You'll also notice the long-term trendline we've drawn in blue. As you can see, gold could fall all the way down to $900 an ounce and remain within the confines of its uptrend. Keep this sensible view in mind when listening to the ridiculous short-term-focused commentary that goes for "analysis" these days.
Want to buy gold at live market prices today? Go to world No.1 BullionVault now...
NOW THAT the Gold Price has soared from $925 an ounce to $1200 an ounce, it's amazing how many people CNBC trots out to explain every random $20 move in the metal, writes Brian Hunt in Steve Sjuggerud's Daily Wealth.
Trying to analyze every move in the Gold Price is a waste of time. We don't see gold as an investment. We see it as real-money "crisis insurance". We bought our gold long ago...and we hope to never have to use it. Not much more "analysis" is needed here.
We also encourage folks to take the "long view" when taking stock of their gold holdings. This long view – a 10-year chart of gold – is our chart of the week.
Gold began its uptrend in 2002. Since then, it has climbed higher every single year...and now sports one of the smoothest long-term uptrends in history.
You'll also notice the long-term trendline we've drawn in blue. As you can see, gold could fall all the way down to $900 an ounce and remain within the confines of its uptrend. Keep this sensible view in mind when listening to the ridiculous short-term-focused commentary that goes for "analysis" these days.
Want to buy gold at live market prices today? Go to world No.1 BullionVault now...
Steve Sjuggerud, 05 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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