Thursday, August 18, 2016

The Big Picture: Is Gold Going to $4,500?

November 30, 2010 by · Leave a Comment 

David Moenning submits:

Gold bugs are an interesting bunch. Traditionally known for extremely conservative political views as well as a passion for guns and canned goods, talking to a true gold bug can be a lot of fun if you have an open mind. However, these days, the gold-is-always-good crowd just might have a point or two worth considering.

To the average investor, something that has already moved up ~25% this year and has almost doubled over the past two-plus years may not be considered to be a great value. The average technician might even call such an investment “overbought.” But to the gold bugs who have studied history, it looks like gold is still a good buy as there might be some room to run yet – maybe even a LOT of room.

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