I remember when gold was on its way up and got to $850 and ounce, then crossed the $900/ounce mark and people online were squealing with delight about the great news. Now it’s pulled back to “only” $1150-ish.
The first part of the “buy low - sell high” equation is staring us all in the face. It may drop a bit more, but I think we’re somewhere near the bottom of where gold’s going to be for the foreseeable future. Looking for a slow rise soon, followed by a more rapid rise within the next 18 months.
But I’m no expert. Just a guy.
I have the same view of oil prices. The speculators are squealing now because oil is at a four-and-a-half year low.
Well, I was in the Bakken four-and-a-half years ago and they were drilling like hell then.
Yes, I get it that at that point they were convinced oil would keep going up, which until now it did.
But it won't keep going down any more than it will keep going endlessly up.