Tuesday, March 27, 2007

Where is Gold going?

Despite the sideways movement of gold prices, I still feel very much bullish on this metal in the long term.Gold for April delivery closed down $1.40 at $662.50.

In my opinion, this is a good buy. I would buy, and sit on it for the rest of the year. My target is at least double its current price.

My reasoning for doing this - is something I cannot post, a gut feeling, and a dream.


Besides, to quote Sam Kirtley on his article, The Gold Bull: How Long Left? Gives me more confidence to buy gold aggressively.

" A commonly known figure amongst gold bugs is just over $2000, which is the figure you get when you adjust the 1980 high for inflation and represent it in terms of today's rapidly devaluing US Dollar. If this is to be the high for gold in the current bull then this would suggest that we have at least another $1000-$1500 rise in gold prices to come. In other words, from the low at $250 to $2000 we are currently at $650/oz, about 37% of the way through this gold bull market."


I am going to my farm tommorow to harvest and sell my farm produce for this season. Further, my adsense income have being increasing by 25% month on month since January 2007 despite my erratic updates on my sites.

I have no idea now where the Peso is going. No currency trades for me as of today.

This is all for now.