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  • parkchair parkchair Dec 20, 2012 11:06 PM Flag

    why i got out of gold 6 months ago

    good points, however gold is different than other market investments that are either manipulative or driven by big players. gold is different because the only value gold has is in its ability to be now or in the future a store of value. unlike a stock that pays dividends, for example, or a company which is making money, gold can be played with until the cows come home and there is no price at which someone is compelled to buy it. tomorrow for instance, gold could go to $20 an ounce and you would have no interest or dividend increase (like you would a stock) or any increase in any respect.

    i know one thing. if the price of gold was reflective of supply and demand, truly, i would personally put everything i have in gold.

    between the maniuplation, the banks, the fed and countries buying and selling, futures, and god knows what when it comes to short selling, borrowing of gold, huge etfs like GLD and god only knows what lending they allow, etc. i just don't trust the price at all. there's no floor under gold.

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    • I agree that gold is different and do believe that fundamentals don't support these prices. But given the 11 year bull market, it seems the path of least resistance is up. We have been in an uptrend since the beginning of this century. While gold may seem overbought, that is what analysts were saying when it topped 700 back in 06. I could be wrong but am willing to take the risk that the trend is still in place. I simply define what i'm willing to risk and set stops at prices I feel won't hold. If those stops don't go off I see no reason to stop riding this horse as far as it will take me regardless of how outrageous the uptrend may seem.

      Sentiment: Strong Buy

126.00+0.53(+0.42%)Jul 26 4:00 PMEDT