Saturday, December 4, 2010

Don't buy gold right now

In the past couple of years I've always commented positively about gold. Investors flock to them when the economy is in the pits. But the world tackling debt problems in Ireland and Greece head on, with the Feds printing money to get more "stimulus" in the U.S. and global economy, we are coming to a point where the global economy is climbing slowly out of the darkness of recession. And this means only one thing -- reinvestment of capital elsewhere and gold will be dumped.

You have been forewarned. If you bought in low, you are fine, but if you have bought in about $1200 per ounce, get ready for a correction. It's coming in 2011.