Time to Stock Up on Some Gold
Posted on: March 9, 2009 - Email Article - Printable Version
With Obama’s outrageous stimulus plans where the federal government is going to give out billions of dollars of handouts to the demand side of the economy, its no wonder gold is gaining ground while stocks have been falling. However, the question remains when is it time to buy? The answer is now. Gold has been consistently in a uptrend since October of last year this is shown in the chart of a major gold ETF [GLD: 122.32, +0.63 (+0.52%)] below. As you can see, gold is making a short short term pull back which signals a time to buy. With more talks of spending, including a world wide stimulus package, there is only further pressure on leading countries currencies such as the U.S. Dollar. These inflationary pressures may push gold to break the 2008 highs of around 1056.
-Justin DiPietro
Disclaimer: None.
The Following Stocks Were Mentioned In This Article: GDX, GLD, ZG
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hello Justin, what you fail to realize is that the GLD only tracks the Gold price. There is much evidence suggesting it doesn’t actually hold any real Gold! Gold ETF’s with real Gold are trading at substantial premiums to spot, 18-30% (Central Fund of Canada), as are REAL Gold coins and bars. You should also be aware that until the anti-gold cartel is exposed, see http://www.gata.org, the Gold price on paper could continue falling. Thoretically, the Futures price of Gold could fall to $100 or less, as there is no oversight as to how much paper Gold the Bankers sell into the futures market. Help end the Gold price suppression, http://www.gata.org.