The Gold Timeline: A History of Gold Prices
October 1, 2006 -
The recent sharp decline in gold has shaken a lot of gold bulls out of the market with many people exiting and cutting their losses. And as steep, quick and brutal as this last correction has been, we may still be in a consolidation phase where gold may dip even lower before starting its next leg higher. But that leg higher I’m convinced will start very soon. Without getting into all the minute details of everything I research to make my decisions, let’s just say my calls on the price of gold for the past five months, if you go back and check my newsletters and prior blog entries, have been almost dead on. This is because I dig way down deep into the rabbit hole and consider many non-standard economic factors to formulate my predictions.
Many of the factors I consider, according to the analyses I read of major investment firms, are just flat out ignored by their chief global economists. I strongly consider this recent steep correction in gold prices as a stellar opportunity to buy, not to liquidate, current positions in gold stocks. I wrote in a prior blog entry that when everyone is staying out and afraid, the best investors must be courageous and bold. Not rash. But courageous in light of careful, insightful research that contradicts the overwhelming sentiment at the time. And people are overwhelmingly afraid of gold right now.
So let’s review a very condensed timeline of gold’s price behavior. Read more …
4 comments October 1st, 2006
