Monday, August 18, 2008
Is $800 Gold A Falling Knife OR An Opportunity?
The above notice just was posted on kitco.com, a popular *goldbug* website. It seems that all the end-of-the-world types are feverishly rushing to buy more precious metals at these lower prices. I guess I should have waited a few weeks before buying palladium. It's down from $390 to $285 in a month! If some of the banks I am short start to roll over, perhaps I'll buy more.
I don't have any strong feelings about gold. I see it as a tough call. It could very well take a two year break before resuming its uptrend.
UPDATE - It seems I am not the only one to have noticed strong investor demand for the metals. Read this piece here, particularly if you have a proclivity for government conspiracy theories:
The Disconnect Between Supply and Demand in Gold & Silver Markets