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Richard's Remarks

 

Gold has closed higher for ten years running. Gold closed at the end of 2010 at 1420, up 30% for that year. Gold closed at the end of 2011 at 1531, up 7.8% for that year.

 

Can gold close up in 2012? To do that, gold will have to close above 1531 on December 31st of this year. Gold is now around 1650, so if it can stay here this will mark the 12th year in a row that this remarkable bull market has remained in force.

 

This may be the longest bull market in history, but it's not that pleasing. The reason is that during this bull market the dollar has been devalued year after year. Remember, the price of gold doesn't change; the number of dollars needed to buy an ounce of gold is what changes. Gold has increased in dollar terms, starting with a price of $290 in 1999. ... Log in or subscribe to continue reading.


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