Confidence in Gold

November 4, 2017 | By | Reply More

Confidence in gold continues to be undermined by even its most ardent long term admirers.

Between July and early September this year it looked as if the yellow metal was at last on the move up despite those months being traditionally slow in the precious metal markets. Optimism became the order of the day.

Then came the downturn to flat line for the last four weeks at around $1270 an oz.

Blaming Bitcoin !!

The reasons given vary from blaming a preference for Bitcoin thru easy money in stocks to lack of inflation.

It looks as if the world has, after thousands of years, decided that gold is no longer the safe haven in times of trouble, even the threat of North Korea has failed to lift the metal.

Pick a Theory

Theories abound, the threat of a cashless society, a throwback to the thirties when gold was confiscated from citizens, central bank money printing aka quantative easing, its drawbacks as a convenient use for barter in this modern age, or the age old excuse that it pays no interest. Take your pick!

Gold and Economic Disaster

As far as we can judge, sooner or later gold will will reflect its true worth in a world that is accelerating downhill to an economic disaster of huge magnitude.

We do not regret adding to our stock of gold bullion when we mistakenly read the signs of a prolonged upturn in July but this was money we could afford to pigeonhole for the long term.

It has to be said though that the temptation to plunge headlong into the market was hard to resist.

Related Posts Plugin for WordPress, Blogger...

Tags: ,

Category: Gold

Leave a Reply

BullionVault