He has obviously taken my advice going by the increased Open Interest in the Gold options market.
Info. on options market OI on this link for those interested.
http://harveyorgan.blogspot.com.au/
Do you know if you had followed my advice and opened an account with just 100 contracts for December you could have closed out already for around two years of a baggage handler’s salary?
Gold down $10.00 x 100 x 100 contracts for a cool $100,000.00
One would have to say at least that’s a good start to your target of $7.3 million given your level of commitment and that the month of October is just around the corner and your firm belief in the usual gold performance during October.
The point I wish to make here is that if people have strong views either bullish or otherwise on Gold there are better(financially rewarding) things for investors to spend their time on other than spruiking constant negative comments that bring little to the table.
Maybe our friend fully understood the subtleties of what I was basically saying: “Put up or shut up!”
As I write this I see those hundred contracts are up another $35K! A nibble player with the stomach and orchestra stalls for such action can do well playing options.
I don’t claim to have either, so for me I will continue with buying physical Gold and Silver with excess cash above my personal lifestyle requirements.
IMHO Gold and Silver will continue to rise at least until 2015 as Mr. Bernanke has told the market he will maintain his zero interest policy until then and continue printing money out of fresh air until the USA unemployment situation improves. Given that it appears he has not considered that the USA and world in general may be living at a time when we have actually reached something called Peak Employment that could be some time.
I don’t agree with some thoughts on Gold during October but suggest a few things that are just around the corner for Gold.
One being the Indian wedding season: September to December (of course October in the middle.)
To close I feel the reasons for the gold price to rise through until the end of 2012 (and 2015) far out way the possibilities of the price crashing. My money is where my mouth is and will remain there for the time being.
Good luck to all in your chosen method of insurance for these interesting and possibly dangerous times. Off to Las Vegas on the morrow for the mining show, a good chance to catch up and hear what is going on in the world of mining.
