John Pseudonym

Bob Moriarty: Gold is Safe Haven for Looming Crash

Sounds like Bob has a lot of his money invested in Gold and needs a good rally to get out with his head still on his shoulders.

The Case for Gold Today

10% of retail gold purchases occur in India.

The higher the price, the less they buy. I suspect the other 90% of retail sales follows the same rule.

Now consider how the world is broke and you have a major use of gold (retail sales) drying up.

Slowing economies will reduce industrial use; further dampening price increases.

Finally, the gold charts show a tired bull.

The only chance for gold to up is a flight to gold out of fear. Some major world shocking event that throws the perceived safety of paper money in serious doubt; definitely not a long shot given the US financial cancer which is spreading worldwide as we speak.