Originally Posted by
Aaron
Anyone who has read my posts will know I am a bit of a doom merchant, but I see gold jumped 1% overnight and may crack $1,300.00oz. My gold producers are up 65% over the last couple of years EVN, NCM & NST as well as RMS a leftover from when I got wiped out years ago and it went into the bottom draw. Only small amounts invested as I have no faith in my ability to see into the future and I see gold as a speculation rather than an investment so not willing to invest life changing amounts in gold companies but my theory is that if Central Banks continue with money printing and low interest rates eventually faith in cash will wane and gold will be seen as a more valuable currency alternative. As long as central banks around the globe continue to hold gold it should have some value as a currency. If stock markets continue to fall it won't be long before interest rates fall and more bond buying begins (or some other "innovative" financial engineering i.e. money printing) surely this is positive for gold. I am tempted to become a momentum speculator but know this is dumb as my understanding of the global market for gold, production statistics and actual gold mining is non-existent. What are other peoples views on the price of gold. I am tempted to just dive in and make a significant speculation based on recent success. (I think there is a name for that way of thinking like recency bias or something)