Monday, December 7, 2009

The goldrush is far from over

Again we can read in papers that the boom in gold prices is over. Ever heard that one before? If you trace back among my postings I’ve commented on 3 such huge clear and absolute unified certain statements from media only during this year, each time I said that its far from over and that people should buy gold, and who’s been right?

Gold will not have peaked, at least not counted in USD, before the price has gone way over $2000/ounce. I said earlier this year that the top would be around $2300, I’ve since then retracted that statement and am now seeing prices far over that.

Some people whom also use their brain have stated that $7000/ounce is very likely to occur within a couple of years and I see no reason to contradict that, on the contrary, if the printing presses continues at their current rate gold will exceed even that level.

I also read in one of the Swedish papers today about a hilarious statement. Apparently one journalist at the paper SvD stated that: “When the dollar strengthens, it usually means that gold prices go down”.

No way?!


Is this the sort of journalistic masterpiece that you idiots out there buy newspapers for? And this guy is a reporter at one of the main papers, in the economy section! How about that? Anyone writing something like this at the same time as he claims that the goldrush is over should get fired.

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