It's interesting reading all the arguments people put forward for selling or buying gold.
One of the funniest is the contrarian argument whereby people say 'I will sell when my hairdresser or taxi driver starts giving tips on buying gold and gold stocks'.
Actually I think that even though less than 1/100 people have any meaningful exposure to gold it is starting to break through in the media a bit.
But really I think there will be two clear signals as to when it's time to get out of gold.
1)When national governments, especially in the west and in particular the USA, show a credible plan for dealing with their debt in a way that doesn't involve either inflation or default.
2)When governments show they are able to run responsbile fiscal and monetary policies.
After all what is the price of gold but an expression on the quality and quantity of government mandated fiat money?
I think we are a long way from the two conditions above being satisified and I will therefore continue to hold and build on my long position in gold.
Would appreciate thoughts of others.
Twinsen
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