Nawar Alsaadi

The 'Death of Gold' Revisited

Don't forget ETFs, it is much easier today to buy gold then it was in the 70s, I am seeing gold ETFs launched worldwide, the latest being in Dubai last week, being able to purchase gold through ETFs has opened gold speculation to the masses, the 70s high was driven by pros, today gold bull is being driven by pros + the general public, and since the quantity of gold has not increased massively since the 70s, while wealth and paper money has multiplied multiple folds, the Gold high this time will be much much higher.

The fact that gold crossed $1000 an ounce in March has broken an important psychological barrier, where the sky is the limit, much like oil when it crossed $100, Gold has found strong support at its hold high of $850, and there is not telling how high it will go this time, but it will be much higher in my opinion.


Regards,
Nawar