There is a frenzied rush of advertising over gold. Everywhere you look there are ads after ads on TV and on radio. It reminds me of when real estate was hot. Companies that you had never heard of had ads all over the media. Moreover, real estate companies that only had an 800 number opened up store front offices in major cities. The same is now true for gold. There are ads everywhere offering to sell you gold.
I went on the web and looked for predictions of the future price of gold. Here are a few:
“Gold Price outlook of $2,200/oz.”
“$3000 is a pretty conservative price target. I tend to think we’ll see something closer to $5000 when all is said and done.”
“Experts predict gold at $10,000 per oz.”
So the fundamental question is “If the price of gold is expected to increase from $1,700 an ounce to $2,200 or even $10,000, then why would anyone sell it?” Remember in order for you to buy it, someone has to sell it.
Happy Birthday Frederic Bastiat
1 year ago