Now that gold has soared from $925 an ounce to $1,200, it's amazing how many people CNBC trots out to explain every random $20 move in the metal.
We hope by now all DailyWealth readers realize trying to analyze every move in the gold price is a waste of time. We don't see gold as an investment. We see it as real-money "crisis insurance." We bought our gold long ago… and we hope to never have to use it. Not much more "analysis" is needed here.
We also encourage folks to take the "long view" when taking stock of their gold holdings. This long view – a 10-year chart of gold – is our chart of the week.
Gold began its uptrend in 2002. Since then, it has climbed higher every single year… and now sports one of the smoothest long-term uptrends in history. You'll also notice the long-term trendline we've drawn in blue. As you can see, gold could fall all the way down to $900 an ounce and remain within the confines of its uptrend. Keep this sensible view in mind when listening to the ridiculous short-term-focused commentary that goes for "analysis" these days.
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