Saturday, July 10, 2010

Gold and silver: Good news and the bad

Less than 1% of total global assets in 2009 were in gold-related investments

“The future ain’t what it used to be”…Yogi Berra

Judging by several e-mails I’ve received from anxious readers of my articles during the past few days, some of you are wondering if you should have ‘sold in May and gone away.’

Let’s look at a chart from last year and see if that strategy would have worked in 2009.

Here is the daily bar chart for gold from last year. Selling in May (green rectangle) and going away would not have been a good idea in 2009. The good news is that the best buying opportunities for buying gold and silver usually come in May – June – July.

“There can be no other criterion, no other standard than gold. Yes, gold which never changes, which can be turned into ingots bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence” ... Charles Degaulle. (more)

No comments:

Post a Comment