Tuesday, January 12, 2010

Gold: The New Rocket Man

It won't be a long, long time! Gold is massing for a potential upward vault into record territory that should last at least a year. 

It may pause for a bit now and at further points in the future, but liftoff is being counted down at "Cape Carnival", as Archie Bunker might say!

The only sign that would nullify this prediction would be a sudden and sustained reversal to below $1,100.

So, let's assume for the moment that I am indeed correct.  The next stop ought to be somewhere in the vicinity of  $1,200.  After that I don't have any idea what kind of pullback will occur.

The liftoff has plenty of fuel, amongst which is the imminent War with Iran  (http://markostake.blogspot.com/2009/12/war-with-iran-imminent.html), the continued deterioration in the dollar and the growing difficulty in finding buyers for Treasuries.

If you haven't invested in Gold already, do so immediately, but don't do it in an IRA or 401-K.  I realize that I've been insisting that deferred income vehicles be used, but because of multiple sources of information I've just received, which I believe to be credible, that might not be a good idea.  Instead, you may try physical Gold, but don't place the gold in a safety deposit box (http://markostake.blogspot.com/2009/11/keeping-your-valuables-safesome.html).

If you buy physical gold make sure it isn't counterfeit (http://markostake.blogspot.com/2009/11/fools-gold.html).

Thanks for reading,

Marko's Take.

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