Tuesday, January 05, 2010

The Gold Trap

Spot Gold 30 days of Gold, with almost 20% of value lost in a month.

Dow Jones Industrial Average - Google Finance

As you can see the Dow trended up over the same time. Gold is a safe haven, and the economy is turning the corner globally and gold prices are in for some major downward motion.

So when you see Carrie in the Sex in the City ads dressed in Gold shoes, glasses, necklace and bag or you hear Gleen Beck talk about gold you know what is happening. Investors are tyring to use media to find suckers to unload gold on now that the price is in for a drop.

DO NOT BUY GOLD NOW. The time to buy gold was 2000 when Bush stold the election, 2003 when he pushed the Iraq war, 2004 when he was re-elected and 2007 as the US housing market collapsed. Depending on when you purchased your gold it is now time to get out. Probably a good time to sell gold and buy a new house.

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