Friday, November 9, 2007

Gold: The Currency Of Choice

“Bernanke’s remarks today were not clear in their support for the diminishing US Dollar. Integrity in our financial institutions and the US Dollar are falling quickly. Restoring confidence is very difficult to undertake with current circumstances and the result is greater interest in real money. Gold’s integrity does not need to be questioned and that brings a level of confidence the US Dollar simply cannot produce as it loses its global appeal. Over the coming days and weeks, I would expect an attempt to stabilize the situation because at the current moment, it appears to be getting out of control. The big question on my mind is: Are the mechanisms of control used to stabilize situations able to do so at this time? Or is the situation so much larger that it is at the mercy of the free markets forces?
This is not a time I would want to be short gold or out of gold. Times like these are precisely the reason investors have gold and silver in their portfolios. It is an insurance policy against circumstances we are witnessing at this time.”

- Peter Spina,

I could not have said it better.

Volatility is rising in the Precious Metals markets. This is to be expected. Respect the volatility and stick with your convictions. The Dollar has few if any friends right now. Gold is a rising times of economic uncertainty, Gold is the currency of choice.

No comments:

Post a Comment