GOLD 0.51% $1,391.7 gold futures

Dear Goldbugs, I've been converted!Sold my NST for a good...

  1. 366 Posts.
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    Dear Goldbugs,

    I've been converted!Sold my NST for a good profit, but I will buy back in when the price is right because it's a very good business.
    Reasons?
    Gold is currently historically high. It peaked in 2011 with concerns, post GFC (2008), with worries about the US debt ceiling and doom and gloom re the sky falling in etc.
    Well, nothings changed. Doom and gloom persists according to many pundits who make profit from preaching/selling it. Mr. Market doesn't agree and says all is fine.
    I reckon if 9/11 and later the GFC didn't push gold above $1200 at the time it will take a monumental upheaval of some sort to push it far beyond it's current high levels.
    Moody's recent downgrade of China had no effect (as Skol pointed out), the debt ceiling worries are not headlining like they did back in 2011, probably because everyone knows it will be raised again. (Open to debate I'm sure)
    I had a look at the history of gold prices (Link below) and found that Gold actually has continued to rise since being "freed" from the US$. Some folk here are advocating a return to the Gold Standard and how that will benefit the POG. Well, when it was around before the POG was very low, stagnant for about 50yrs!
    Anyways, right or wrong, time will tell.

    https://www.thebalance.com/gold-price-history-3305646
    Last edited by BBrad: 02/06/17
 
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