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Craig Brockie
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Craig Brockie is a contrarian investment advisor in Beverly Hills, who provides wealth management services to high net worth clients. He prefers to bill his clients solely based on performance, getting paid only for results.
My company:
Contrarian Advisors
My blog:
Contrarian Investing News
  • Gold Back Above $1,300 After Biggest 2-Week Gain In 20 Months 0 comments
    Jul 22, 2013 2:01 AM | about stocks: GLD

    Gold has had its strongest 20-week run since 2011, which was bound to happen after the multi-decade irrationally oversold condition it's experienced. Gold is trading back above $1,300 per ounce again in the international markets today and likely to do so in the US markets in the morning.

    I received a phone call from Michael Gayed of Pension Partners this week. Michael is a regular guest on CNBC and writes often for Market Watch and Seeking Alpha. He has made some very accurate calls over the past few years, is a very knowledgeable and lucid writer and is someone I respect a great deal. Anyway, Michael has turned bullish on emerging markets recently and why wouldn't he? When you have huge riots happening in Turkey, Egypt and Brazil, you know you need to be close to a bottom. Remember "Occupy Wall Street"? Well that happened to mark the best buying opportunity of 2011.

    The only thing better is when people actually force their local stock exchange to close by throwing rocks at it. I'm not kidding either. In the first quarter of 2009, at least three countries closed their exchanges during trading hours: Pakistan, Russia, and Brazil. Russia's was closed more frequently than Brazil. In Pakistan, some people threw rocks at the exchange. Which were the three top-performing markets of 2009 worldwide, in order? You guessed it: Pakistan, Russia, and Brazil. The most frequently closed markets subsequently performed the best, and the exchange with rock throwing was number one.

    Any way, Michael Gayed also believes that gold and commodities are about to take off. He pointed out something very interesting to me that I'd never considered. The Indian Rupee just hit an all-time low versus the US dollar and has begun to rally strongly. Now that the Rupee is rising relative to the dollar, the world's largest buyer of physical gold, India will have greater ability to do just that--buy more gold.

    Here are some excellent articles I came across recently:

    I'll be Winnipeg next weekend and in my hometown of Fort Frances, Ontario the following week. If you're interested in meeting, let me know.

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