Oct
27
Ten Reasons Why Gold Isn’t Above $1,000
Filed Under Gold
OK, I’ll be the first to admit that I’m not perfect. Proof to this is (among other things) I bought gold and gold stocks when gold was trading over $840 and ounce - I averaged down at least 2 more times and am still buying.
I feel good about own gold and gold backed stock - but it is a cold mistress at the moment.
— Article –
Gold reached its all time high price above $1,000 per ounce a few days after the shocking Bear Stearns bailout. In the following months, gold often experienced sharp declines and has stubbornly refused to reattain the key $1,000 level despite more shocking bailouts, bank failures, and bankruptcies.
Reporters, analysts, and bloggers have cited a variety of reasons why gold has not exploded higher amidst the ongoing turmoil. Some of the reasons are more valid than others, but all are worth examining. Without further ado, the Gold and Silver Blog brings you the Top Ten Reasons Gold Is Not Above $1,000:
Reasons In a Nutshell
1) US Dollar Strength
2) Commodity Collapse
3) Deleveraging
4) Speculative Selling
5) Recession
6) Deflation
7) Hedge Funds and Mutual Funds
“George Costanza Trade”
9) Government Manipulation
10) These Things Take Time
Read full article Ten Reasons Why Gold Isn’t Above $1,000 - Seeking Alpha.
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