Kingkev wasn't it on the KGL thread last week that we already discussed that Buffet story? My response was that his comparison of gold to a pyramid scheme was nonsense as was a comparison of any form of money (which gold is) to income producing assets like farmland. You have to have some respect for what he has done in the past and I have no argument that in the long term quality income producing assets will outperform gold which is after all money but you are not comparing apples to apples. When he talks rubbish, he looses a lot of my respect. Gold is a form of money that is very undervalued short term and that is the attraction. In any case, gold may not produce income but gold miners certainly do and they will probably be one of the more reliable income sources going forward just as they were during the depression. When economies continue to falter and the printing accelerates and gold responds again mining companies time will come and it will not be long IMO.
For those people occasionally posting that they are sick of people saying they are accumulating, Sorry about this, but I am now accumulating again!
I know value when I see it and I also now see an overdone sell-off and I see support coming in. All good reasons for me to accumulate again. I have bought a few, and if it goes lower I will buy more.
KGL Price at posting:
$1.09 Sentiment: Buy Disclosure: Held
