“Naysayers be damned” seems to be gold’s message these days. Just as it looked like gold prices were down for the count, along comes a crisis in Italy that perked them back up again. Some watchers think they may keep going up too. But there are always those who say gold is heading down.
Right now we’re watching action in the US Dollar to see if any strength appears, because if it does, gold will most probably head down below 1300. But it’s too early to tell yet. Odds are, we’ll have to wait until early next week before any clear direction shows itself. And if it does? This hasn’t been a great year for clear signals in the gold markets, but we can be patient – for a little longer at least.
Today’s featured article lets us chew on the wisdom of comparing gold to stocks. The Oracle of Omaha is famous for his “gold is a brick” opinion of our favorite yellow metal, yet as this article reveals, there are several ways to look at it, and most of them are quite positive in the current environment.