gold is just a peice of rock.. barbarians invaded Rome for gold. gold as a currency or storage of value suck and 'retarded' in this modern era or in modern finance. it was the only form of currency for international trade prior to 1945.
Actually he is heavily long in GLD, he just said gold is in the "ultimate bubble" and not safe. Confused?
And president Warren Buffett says it's useless. I agree. Besides, unlike stocks which give you at least some modest dividend income; you have to PAY to get it stored (and guarded). You have to pay to get your money in gold, instead of being paid.
Soros: "markets are inherently unstable". I suppose that would apply to Soros' comments on gold also. He speaks in riddles wrapped in enigma.
There is nothing "speculative" about an unprecedented monetary base, deficit, national debt, and a soon-recovered American consumer. Do the math, and you'll understand there's a lot more to Gold 1300$ than merely specs. You don't think CB's desperately tried to sell GLD under 1K to assuage inflationary concerns? They tried, and China and India bought it up. Happily. Gold has nowhere to go but up. We crash to the '09 lows and Bernackes precious Wallstreet Bankers get axed. You think he's gonna let that happen?? We're boxed-in. Upside will happen. Just a matter of time. But GLD under expansionary credit is somehow bearish?!?! LOL
a gang invades the territory in an old western,a bunch of old hollywood actors come in and cut them down, that scenario will play out in gold
Gold and silver continue to lack sellers during a period where the markets are bullish during stock market rallies. This is a bubble getting ready to burst. The vertical momentum of this rally has increased, which is what is necessary to create sellers. Look at a straight near term put play in either market to capitalize on a volatility spike to the downside. Copper is a strong short. James Mound