gold to correct?, page-19

Hi WC8. You're viewpoint is valid, however..

You post 'when you're all looking in the same direction you risk being blindsided from the complete opposite direction'.

The thing is you're posting on a gold thread in hotcopper which is a place where you are going to find people who are invested in gold and who have the accompanying mindset that motivates someone to invest in gold.

My understanding is that gold is still a fringe asset and those who are investing in gold are still the minority. I am a blue collar worker invested in gold and in my life I do not know one other person who has invested in gold or gold stocks. I have spoken to some friends and family about precious metals but not one of them has gone ahead and purchased any and that is all good. But to say that we are all looking in the one direction !! Please. More like there are very few people looking in the direction we are looking, or taking up our viewpoint. Not in the broader community anyway.

Sure I would imagine gold is getting more recognition from the professional investment and finance world. This is exactly what someone already with a position in gold is looking for and one of the reasons why they have invested.

Gold has been strong over the timeframe you are looking at but looking at it over a 5000 year period it reached its peak as a fringe asset around the year 2000, is coming back into favour, but over this longer timeframe is still very much out of favour compared to times past. At a time now when paper currencies are, perhaps intentionally, being abused.

In regards to some people betting the farm on gold. Couldn't disagree more. Yes I have some moderate leverage on my gold stocks and i hold some bullion outright. And yes you do need to be aware that some people are leveraged to the eyeballs in stocks and this does exacerbate some downturns. Yet I'm getting advice from mother dearest to put a deposit down on some property and I can assure you I would need to be leveraged 100 times more to follow the leveraged crowd and get into that mainstream money making class.