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Just in case you think I’ve cashed in on all my gold, I want you to know that I’m still here writing blogs. When I was writing a blog on Sunday night, I noticed the price of gold as it was inching its way up to $1026. I phoned my broker on Sunday night and was put on hold indefinitely. I don’t think they were open but someone had forgotten to shut off the answering service. I caught on after waiting for 10 minutes but I’m sure there were people on the line until the office opened on Monday morning to cash out.
For the smart investors who sold out at $1026 per ounce on Monday morning, you are probably reading this blog from a beach in the Caribbean. What’s the weather like where you are at? I decided to hold on and ride it out. Today, I noticed gold closed below $1000 signaling a good time to stock up if you missed out earlier. This glitch might be a correction, but glitch or no glitch, you should buy some for safe keeping.
My theory still lives on. Gold will climb to $1500 in 2008 and to $2000 beyond. There will come another time in the next few weeks to sell at record high prices. Hopefully I can join you guys on your next beach stop. Just make sure there’s plenty of beer in the cooler when I get there. Cheers!
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