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Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

Gold and a Newer Generation

Commodities / Gold & Silver Mar 31, 2008 - 02:17 PM GMT

By: David_Vaughn

Commodities Well, now that gold has surpassed 1,000 an ounce it should be preparing for its dramatic descent. The fact is that the common man has been brainwashed for 20 years that gold is bad and evil. Now that it is over 900 he knows by all his learning that gold should soon drop through the floor. Small investors all around the country are selling their physical gold for paper dollars.


“Dave, Very good, very good reading the facts. I also do not believe the vast majority of people here know just how bad things are and how much worse they are going to be. People are so unaware, they don't do their home work, they don't read, they don't focus.” “I read the other day that out of every 50,000 people none had bought a mining stock or even had held a gold bar in their hand let alone buy one. Well we know better don't we! Well here's happy trails and fortunes to be made. Best wishes!” WL

Is gold really sitting at its peak? I have watched so many try to predict the price of gold over the years that generally their predictions are off. Often perception carries more weight than reality.

Doug Casey – “What's developing now is likely to be the biggest monetary crisis of the past 100 years, potentially the biggest since the U.S. Civil War. This isn't a prediction, just an appraisal of the tumultuous possibilities that are opening up.” “I'm of the opinion that government is so big and so powerful now, and the average person – idiotically – relies on it so heavily, that much higher inflation is inevitable.” Kitco , 3-27-2008

And the perception now is that gold is preparing for a drop. As I said this is due to the older generation being taught that gold is worthless. Now we have a newer generation with a little more openness growing up to the fact that gold has value.

Chris Gilpin “…listen to what's coming out of the U.S. Department of Energy. Just last week, Assistant Energy Secretary Alexander Karsner said that "[t]he places where oil can be found and extracted and brought to bear in the world are decreasing. It will get harder, and demand will outstrip supply for probably the rest of my lifetime." “How long will it be before we hear the phrase ‘Peak Oil' invoked by a U.S. President to emphasize the need for energy independence? The sooner it happens, the better. After all, the first step toward solving any problem is overcoming denial.” Kitco , 3-28-2008

Where do I see gold now in a few more years? Actually there are many fundamentals that will determine gold's direction. The two strongest are a weakening US dollar and a rise in the inflation rate. There is a momentum between those two factors and no one knows how far that momentum will travel. Well, as I am observing the gold price still remains comfortably over 900 an ounce. And still the small investor remains huddled under his desk waiting for gold to crash down upon his head. And I notice that the media still ignores gold's incredible rise above 900.

Don't be fooled by these periodic and temporary rallies in the US dollar. The long term direction for gold is still up. While it's hard to make general predictions I believe the years to come are going to be very interesting with a new presidential administration. A lot of bad wood in the fire and more bad wood to come. Are you concerned about the price of gold presently fluctuating? That behavior is typical of a bull market. The significant fact now is that gold has climbed to over 900 an ounce.

Think long term, always longer term. The price of gold in the short term will move in extremes in every direction but gold will be overall strong for the rest of this decade and beyond. It's not too late to invest in gold related equities to take advantage of their wealth generating attributes. We are living in the last days of cheap resources and cheap commodities. Gold Letter, Inc. reviews undervalued gold stocks poised to rise in this time of increasing demand.

Click here to order Gold Letter

Don't forget to email.

By David Vaughn
Gold Letter, Inc.
David4054@charter.net

© Copyright 2008, Gold Letter Inc.

“The Worldwatch Institute, an organization that focuses on environmental, social and economic trends, says the current rate of global demand for resources is unsustainable.”  

The publisher and its affiliates, officers, directors and owner may actively trade in investments discussed in this newsletter. They may have positions in the securities recommended and may increase or decrease such positions without notice. The publisher is not a registered investment advisor. Subscribers should not view this publication as offering personalized legal, tax, accounting or investment-related advice. The news and editorial viewpoints, and other information on the investments discussed herein are obtained from sources deemed reliable, but their accuracy is not guaranteed. © Copyright 2008, Gold Letter Inc.

David Vaughn Archive

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