jeudi 8 novembre 2007
High Up there
Record highs are getting broken everyday with the Gold price.
Yesterday's high was 845. Today's latest price is 838.
Journalists and market participants are wondering : is it going to last ? or how far will it go ?
In the short term, I don't know : markets are so unpredictable.
I know that for sure. As I know now that it is not necessary to predict the future in order to make money.
In the longer term, I am pretty confident that Gold will go higher, just because of its correlation with Oil ,and its inverse correlation with the Dollar and the Stock market.
Two or three years from now, Gold will probably be higher, and that's all that count for my little investment, because this is when my Gold Royalties will probably reap the biggest reward.
I would prefer if it happened earlier because I need a validation of my strategy before the end of the year. But this is irrelevant to the bigger picture.
Right now, I am excited by the rise of the gold and frustrated at the same time because my investment has not followed as much.