Saturday, September 22, 2007

What about gold?

In my post last March 27, 2007, I have this to say:

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.

So? Where are we now?

I do not have to mention the Canadian Dollar reach parity today with the US dollar, nor I have to mention that the Euro reach its highest today against the US dollar. The "Queen" already posted it, hehehe.

On the news (PDI):

Spot gold was quoted at $732.50/733.30 in New York late Friday, down from late Thursday's level at $734.20/735.00.

But that followed spot gold's surge to $739 an ounce in Europe on Friday -- its highest since January 1980.

It is up and up!


I am not sure whether the EU Central would let the Euro on going up. Certainly, the Canadians with too much oil, and oil at more than 80 dollars a barrel, would oblige to have a 0.9 dollar to a Canadian. hehe. So...where should we go?

The Peso? Not much, but has room for appreciation. So, where?

My two definitive answers, would be:

1. The Yuan
2. The Iraqi Dinar

Give them a year and you will see, hehehe.

PS: Seek advice from a financial expert.